OpenAI’s filing for an IPO in the US comes hot on the heels of rival AI giant Anthropic.
| Updated: 14m ago Vancouver, CANADA – May 20 2024 : Claude by Anthropic and ChatGPT app icons seen in an iPhone screen. OpenAI’s filing for an IPO in the US comes hot on the heels of rival AI giant Anthropic.
OpenAI is planning to launch its shares on the US stock market, hot on the heels of rival AI giant Anthropic as the industry’s race to go public enters full swing. The company behind the chatbot ChatGPT announced that it had filed paperwork with the US Securities and Exchange Commission for an expected initial public offering .
OpenAI said in a blog post that the filing was “confidential” but it was choosing to announce it because it expects the news to “leak”.
“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. “But it’s a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best.
” The filing involves submitting a prospectus to register interest in an IPO, which if it went ahead would see the company’s shares launched on the public market. It is thought that it could be one of the biggest debuts on Wall Street, with OpenAI’s most recent valuation coming in at more than 850 billion US dollars .
The company, headed by chief executive Sam Altman, says it is generating around two billion dollars in revenues each month. It also recently revealed it was building an “AI superapp” which it said will bring together ChatGPT, its coding tool Codex, and browsing capabilities.
Anthropic co-founder and president Daniela Amodei speaks to Snowflake chief executive Sridhar Ramaswamy during the keynote presentation at Snowflake Summit 26 in San Francisco It comes a week after Anthropic, which makes the chatbot Claude, revealed it had also submitted the paperwork to fire the starting gun on a potential listing. Anthropic is valued at nearly 1.0 trillion US dollars following its meteoric rise from a research laboratory founded five years ago.
At the same time, Google’s parent firm Alphabet said it was looking to raise 80 billion US dollars in equity to fund its AI infrastructure investments – its first stock offering in more than 20 years and one of the largest ever equity raisings. Elon Musk’s rocket and AI company SpaceX is also preparing to list on the Nasdaq stock exchange in the US.
The planned listings increase the pace of activity in the fast-growing industry as firms look to capitalise on the boom in investor demand for AI.
Please follow us on Google to support us United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
City plans 'scattering garden' for people's ashes in bid to save burial plotsThe local authority looks to be running out of traditional plots for coffins with a report in chambers showing only one of its 10 cemeteries is open to new burials
Read more »
OpenAI plans to go public setting up new race with AnthropicThe company behind ChatGPT filed its plans one week after Anthropic did the same.
Read more »
AI Legal Assistants to be Rolled Out in Crown Courts to Tackle Case BacklogThe UK Government has announced that virtual legal assistants powered by artificial intelligence will be trialled in Crown Courts to help reduce the rising backlog of cases. The AI tools, including models like Anthropic's Claude, will assist judges and lawyers by streamlining case preparation and grouping similar hearings. The scheme will be announced by Deputy Prime Minister David Lammy at London Tech Week. Probation officers will also receive AI tools for transcribing conversations with offenders. The Law Society has called for the trial outcomes to be made public and for thorough evaluation of the AI's impact on the justice system.
Read more »
Coronation Street spoilers as gun fired, Betsy plots exit and Sarah confrontedSomeone is also plotting a proposal in Weatherfield according to new spoilers for the ITV soap
Read more »