Jun. 9 at 2:37 AM
OpenAI said it has confidentially submitted an S-1 to the SEC, giving the company the option to go public, though no IPO timing has been decided yet.
The company said it announced the filing b/c it expected the news to leak, but noted that it “may be a while” before any public listing b/c there are still things it wants to do that may be easier as a private company.
OpenAI added that the decision involves a complicated set of tradeoffs, but filing now gives it flexibility to move toward an IPO sooner if that becomes the best path.
OpenAI also plans to facilitate a tender offer that will allow employees to sell shares at the latest valuation of
$852B
OpenAI has been working w/ banks including
$GS &
$MS on the filing
ChatGPT now supports more than 900M weekly active users
In a blog post, CEO Sam Altman introduced what he called “the third phase of OpenAI.”
“Now we are entering the third phase”
“The economy is beginning to reshape around AI. The central question now is how to make advanced AI abundant, affordable, safe, useful, and easy enough for every person and organization to benefit from it”
$MSFT holds ~27% of OpenAI
SoftBank holds ~11.7%
$AMZN holds ~4.66%
$NVDA holds ~3.47%
OpenAI Foundation (nonprofit) holds ~25.8%
Employees + other investors/VCs: The rest (~20%+ employees, plus smaller VCs)
