OpenAI files IPO plans, joining Anthropic in race to go public
By
Kali Hays
Plain bagel done well. Pleasantly substantive.
Summary
OpenAI has filed plans for an IPO (stock market debut), following Anthropic's similar filing one week earlier. The article notes that SpaceX is also targeting a valuation of $1.75tn. OpenAI stated they haven't decided on timing yet, as certain goals may be easier to achieve as a private company. Industry analyst Sunil Krishnan from Aviva Investors notes that AI firms have a vast need for cash due to massive investments in AI infrastructure, chips, and model training, creating a race to go public.
Key quotes
· 3 pulledWe 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.
No-one wants to be last in the game to go public.
The firms are making huge investments in their AI infrastructure including on chips, and training their AI models, which all come at a massive cost.
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