OpenAI files confidentially for IPO at $852 billion valuation

OpenAI has confidentially filed for an initial public offering with the Securities and Exchange Commission, positioning one of the world's most valuable private companies for a potential Wall Street debut. The ChatGPT maker was last valued at $852 billion post-money and said it has not set a listing date. CNBC reported the company has been preparing to go public as soon as the fourth quarter. OpenAI also plans a tender offer that would let employees sell shares at the latest valuation, easing near-term liquidity pressure. The company has worked with Goldman Sachs and Morgan Stanley on the filing as competition intensifies with Anthropic, Google and Elon Musk's SpaceX, which merged with xAI earlier this year.