OpenAI files for IPO, following Anthropic

OpenAI announced on Monday that it has confidentially filed an S-1 form with the U.S. Securities and Exchange Commission, marking a preliminary step toward an initial public offering. This follows a similar filing by competitor Anthropic on June 1. The confidential nature of this filing means that certain financial details, such as executive compensation and potential risks, will not be publicly disclosed at this time. According to its latest funding round, Anthropic is currently the most valuable startup in the world, with a substantial post-funding valuation.