OpenAI plans IPO next year, CFO says it's fine to go public later than Anthropic

Odaily Planet Daily News AI company OpenAI is advancing its IPO preparations with the goal of completing its initial public offering (IPO) next year. OpenAI Chief Financial Officer (CFO) Sarah Friar said at an all-hands meeting that OpenAI will become a public company next year.

Sarah Friar said competitor Anthropic may go public before OpenAI in September, but this will not affect OpenAI's focus on its own development. She noted that an IPO is just a milestone and another form of financing. OpenAI completed a $122 billion funding round in March this year and currently has considerable flexibility.

If business growth is faster than expected, OpenAI does not rule out launching its IPO earlier than originally planned. In the second quarter of this year, OpenAI's revenue was surpassed for the first time by latecomer competitor Anthropic, which also achieved its first quarterly adjusted operating profit during the same period, while OpenAI's operating losses widened further.

OpenAI and Anthropic each filed confidential IPO applications with securities regulators in June. OpenAI CEO Sam Altman has previously considered delaying the IPO to pursue a corporate valuation exceeding $1 trillion; OpenAI was valued at $852 billion after its March funding round this year. (ETNews SW)