- OpenAI confidentially filed for an IPO on June 8, 2026, a week after Anthropic.
- Goldman Sachs and Morgan Stanley are leading, targeting a September 2026 debut.
- The valuation range under discussion is roughly $730 billion to $852 billion, though some analysts expect more than $1 trillion.
- The combined AI IPO pipeline is now estimated near $3.6 trillion.
What Happened
OpenAI confidentially filed for an initial public offering on June 8, 2026, CNBC reported, with TechCrunch noting it follows Anthropic’s filing a week earlier. Goldman Sachs and Morgan Stanley are leading the offering, which targets a September 2026 debut.
OpenAI said it has not decided on timing.
Why It Matters
OpenAI and Anthropic are now headed toward near-simultaneous listings. Anthropic filed its confidential S-1 at a $965 billion valuation, and both sit inside the cluster of megacap AI IPOs arriving alongside SpaceX. The combined AI IPO pipeline is now estimated near $3.6 trillion.
Technical Details
The valuation range under discussion runs from about $730 billion to $852 billion, with $852 billion cited as the latest post-money mark; some analysts argue the public listing could exceed $1 trillion. CFO Sarah Friar told CNBC in April that it is “good hygiene” for a business of OpenAI’s size to “look and feel and act” like a public company, while declining to give a timeline.
Who’s Affected
Public-market investors gain a path into a company previously accessible only to private backers. Index funds face potential forced buying if OpenAI qualifies for major indices, the same dynamic flagged for SpaceX’s June 12 listing.
What’s Next
A confidential filing begins SEC review without publishing financials, so the detailed numbers remain private until closer to launch. The key unknowns are the final valuation and whether OpenAI’s September target holds.
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