00:02The company that helped kick off the AI boom is taking its first step toward Wall Street.
00:08OpenAI has confidentially filed paperwork for an initial public offering,
00:14giving the company the option to go public after a review by federal regulators.
00:18The company announced the filing Monday, but made clear a stock market debut is not imminent.
00:24In a post on its website, OpenAI said it has not decided on timing
00:29and added that some of its plans may be easier to pursue as a private company.
00:34The move is the latest milestone for CEO Sam Altman's company,
00:39which helped push artificial intelligence into the mainstream with the launch of ChatGPT in 2022.
00:46It also comes just a week after rival Anthropic filed confidentially for its own IPO,
00:53setting up a race between two of the biggest names in AI.
00:56And the competition doesn't stop there.
00:59Elon Musk's SpaceX is also preparing to go public,
01:03with OpenAI, Anthropic, and Google all listed as AI competitors in its filing.
01:09OpenAI is now valued at more than $850 billion,
01:13making it one of the most valuable private companies in the world.
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