OpenAI announced on Monday that it has confidentially submitted paperwork for a U.S. initial public offering, stepping into the queue alongside Anthropic as investors look for direct exposure to the artificial intelligence sector.
The company, led by Sam Altman, said it has not settled on the timing for a public listing and warned that the process could stretch out, noting there are "things we want to do that are likely easier as a private company." The firm added that the decision to file confidentially offers flexibility - "but it’s a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best."
OpenAI did not disclose the prospective size or terms of any offering. Reports within the market have suggested the company may be aiming for a valuation of up to $1 trillion and that a debut could possibly occur as early as September, though the firm itself emphasized that timing remains undecided.
Anthropic, the developer of the Claude chatbot, also disclosed a confidential filing for a U.S. IPO earlier this month, marking a parallel push toward public markets by another major artificial intelligence company. Anthropic completed a large private raise in late May, securing $65 billion at a post-money valuation of $965 billion.
These filings arrive against a backdrop of optimism on Wall Street that 2026 could deliver a significant resurgence in U.S. initial public offerings. Market commentators and banking forecasts have pointed to a deep pipeline of large private firms and unmet demand from investors seeking new listings as key drivers of that outlook. One bank projection earlier this year estimated that proceeds from U.S. IPOs could rise to a record $160 billion in 2026 if the marquee names come to market.
Beyond the AI companies, SpaceX has also advanced toward a public offering. The space company filed publicly for a U.S. IPO last month and has been reported to have accelerated its timeline, with a roadshow launch targeted for June 4 and the share sale potentially beginning as early as June 11. In February, SpaceX acquired the artificial intelligence startup xAI, bringing the Grok chatbot into its fold.
Market commentary has noted the scale of what a SpaceX flotation could represent: if the company were to raise $75 billion it would become the largest IPO in history, surpassing the 2019 listing of Saudi Aramco.
The trio of filings - OpenAI and Anthropic in AI and SpaceX in aerospace and AI-related ventures - highlights the concentration of investor interest in companies that combine advanced technology platforms with large market ambition. Yet each also faces unresolved questions about timing, structure and valuation that will shape both investor demand and the eventual outcomes.
As the filings proceed, market participants will be watching closely for more detail on offer size, price ranges and schedules that will convert private valuations and market expectations into public market realities.