OpenAI Files Confidential IPO, Valued at $852B With 48% Chance to Hit $1.5T

According to Polymarket, OpenAI has confidentially filed a Form S-1 with the U.S. Securities and Exchange Commission, setting up a potential public market debut that could rank among the largest technology IPOs on record. The company's most recent valuation stands at $852 billion post-money, with Polymarket predicting a 48% probability that OpenAI could close above $1.5 trillion in market capitalization on its first day of trading.

OpenAI said it has not decided on a specific IPO timeline and may remain private for a while, though the filing gives it the option to list sooner if preferred. The company's confidential submission comes as Anthropic filed for its own IPO one week prior at a $965 billion valuation, while SpaceX is also advancing toward a public listing with reported oversubscription of roughly 2x. OpenAI has accumulated over 900 million weekly active users since launching ChatGPT in 2022 and has raised more than $180 billion in total funding.