OpenAI Files Confidentially for IPO as Rivals Race to Market (1)

OpenAI, the maker of ChatGPT, filed confidentially for an IPO, joining artificial intelligence rivals in tapping public markets to fund ambitious growth plans.

The Sam Altman-led firm submitted paperwork for an initial public offering with the US Securities and Exchange Commission, the company said Monday. OpenAI is working with Goldman Sachs Group Inc. and Morgan Stanley on a potential listing as soon as in the fall, people familiar with the matter have said.

Deliberations are ongoing and details of the IPO plan could change. “We have not decided on timing yet; it may ...