The ChatGPT maker has submitted draft IPO documents to the SEC, though timing remains uncertain

OpenAI has filed confidential IPO paperwork with the Securities and Exchange Commission, marking a major step toward taking the ChatGPT maker public, according to multiple sources. The company, valued at $852 billion in its most recent private funding round, is working with Goldman Sachs and Morgan Stanley as lead underwriters on the offering.

The confidential filing occurred on May 22, 2026, according to reports from investment banking sources. OpenAI is targeting a public debut as soon as September 2026, with bankers preparing a prospectus that would value the company between $730 billion and $850 billion at IPO, according to AI Weekly.

OpenAI’s move toward public markets comes as the AI industry enters a wave of major listings. Rival AI company Anthropic filed confidentially for its own IPO on June 1, 2026, while SpaceX filed publicly with the SEC on May 20, 2026. The three filings set up what analysts describe as a historic year for U.S. IPOs, with each company targeting valuations above $700 billion.

The ChatGPT maker closed a $122 billion funding round in March 2026, one of the largest private financings ever. That round valued OpenAI at $852 billion and included major participation from Amazon, Nvidia, and SoftBank, according to Investing.com. The company has been generating approximately $25 billion in annualized revenue.

A confidential IPO filing allows companies to prepare their prospectus privately before making it public, typically shortening the time between filing and listing. OpenAI’s timeline suggests the company aims to complete its public offering within four months of the confidential submission, contingent on market conditions and regulatory approval.

Sources

CNBC — Confirmed OpenAI preparing to file confidential IPO prospectus as soon as Friday (May 20, 2026)
Wall Street Journal — Reported OpenAI preparing to file for IPO very soon with Goldman Sachs and Morgan Stanley
AI Weekly — Reported OpenAI filing confidentially targeting September 2026 debut at $730B to $850B valuation (June 7, 2026)
Investing.com — Reported OpenAI’s March 2026 funding round closed at $852 billion post-money valuation with major investor participation
The New York Times — Reported Anthropic filing confidentially on June 1, 2026, alongside SpaceX and OpenAI IPO preparations
TechCrunch — Confirmed Anthropic filed confidentially for IPO on June 1, 2026

About the author, Chris Martin

Chris Martin is a US economics and current affairs journalist covering the intersection of policy, markets, and everyday financial life. With a background in financial reporting and a sharp eye for the stories behind the numbers, Chris brings clarity to some of the most complex issues shaping the American economy today. At ECIKS.org, Chris covers breaking developments across domestic economic policy, business strategy, Wall Street movements, and political decisions that ripple through financial markets. His reporting blends rigorous data analysis with accessible storytelling making critical information useful for investors, entrepreneurs, and engaged citizens alike.