OpenAI preps for IPO by end of year, tells employees ChatGPT must be 'productivity tool'

OpenAI is preparing for an initial public offering (IPO, where a private company sells shares to the public) potentially by the end of 2024, with leadership telling employees that ChatGPT must focus on being a productivity tool for businesses. The company is shifting strategy to convert its 900 million weekly users into enterprise customers and has scaled back its infrastructure spending targets from $1.4 trillion to $600 billion by 2030 to present a more realistic financial picture to investors.