OpenAI plans to go public, intensifying investment race with Anthropic

OpenAI has revealed plans to sell shares to the public through a stock listing in the US.

The artificial intelligence (AI) company behind the popular chatbot ChatGPT said on Monday that it had made a confidential filing with the US Securities and Exchange Commission to pursue an initial public offering (IPO) at some point in the future.

"We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company," the company said in a statement.

OpenAI's decision had been expected for months, but the company's filing comes exactly one week after rival AI firm Anthropic said it was planning to go public , too.

Both OpenAI and Anthropic's plans to list on the stock market follow that of SpaceX, the Elon Musk company set to debut on the Nasdaq on Friday at what the company expects to be a price per share that will value the company at $1.75tn (£1.3tn).

But OpenAI and Anthropic, the maker of the chatbot Claude, are more focused on AI work and they have been fierce rivals essentially since Dario Amodei co-founded the latter company five years ago.

He did so after leaving OpenAI over disagreements with Sam Altman, the co-founder and chief executive of OpenAI.

Today, the companies compete for users, corporate customers, investors, and have in recent months been jockeying with private valuations inching toward $1tn.