OpenAI, Anthropic, SpaceX: AI IPO rush heats up

OpenAI has taken a significant step toward going public. The company confirmed on Monday that it submitted confidential IPO paperwork to the SEC, with Goldman Sachs and Morgan Stanley serving as lead underwriters. Sources close to the process indicate a potential listing could arrive as early as autumn.

This move places OpenAI as the third major AI-focused firm to pursue a public offering in a remarkably short span. The filing intensifies the AI IPO race, as rival companies like Anthropic and Elon Musk’s SpaceX are also reportedly exploring their own listings. Each firm is racing to capitalize on surging investor appetite for artificial intelligence.

For OpenAI, going public would mark a dramatic shift from its original nonprofit roots. The company, which launched the viral chatbot ChatGPT, has already restructured its corporate governance to accommodate outside investment. A public listing would provide access to deeper capital markets, enabling it to fund the enormous computing costs required to train next-generation models.

The timing appears strategic. With AI valuations soaring across Wall Street, early movers could secure premium pricing. However, regulatory scrutiny remains a wildcard. The SEC is still developing rules around AI disclosures, and some lawmakers have raised concerns about the societal risks posed by powerful AI systems.

Anthropic, OpenAI’s primary rival, is reportedly working with its own set of banks on a potential IPO, while SpaceX has been rumored to be considering a spinoff of its Starlink business as a standalone public entity. The convergence of these efforts suggests 2026 could be remembered as the year artificial intelligence companies went mainstream on public markets.

For now, OpenAI’s confidential filing keeps the exact financial details under wraps. But the message is clear: the AI industry is no longer content to stay private.