OpenAI confidentially files for IPO, prepping Wall Street for mega AI debut

OpenAI has confidentially filed for an IPO (initial public offering, where a private company sells shares to the public for the first time) with the Securities and Exchange Commission, joining competitors Anthropic and SpaceX in preparing to go public. The company, valued at over $850 billion, has not decided on a timeline for the IPO but says it could happen as soon as late 2025, though leadership notes some goals may be easier to achieve while remaining private. OpenAI is also planning a tender offer to let employees sell shares at the current valuation to ease pressure for immediate liquidity.