OpenAI files for IPO, says AI should not concentrate power as it enters ‘third phase’ of growth

ChatGPT-maker OpenAI has confidentially filed for a US initial public offering (IPO). The company announced the filing on June 9 but did not disclose the size or terms of the offering. OpenAI also indicated that a public listing may not happen immediately.

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“It may be a while because there are things we want to do that are likely easier as a private company,” OpenAI said in a statement.

The move comes amid growing investor appetite for artificial intelligence companies and follows a similar filing by rival Anthropic earlier this month. Reports have suggested OpenAI could seek a valuation of as much as $1 trillion.

Alongside the IPO announcement, OpenAI chief executive officer Sam Altman published a lengthy post outlining the company's vision for the next phase of AI development, arguing that artificial intelligence should be broadly distributed rather than controlled by a handful of companies or governments.

“Every few generations, a new technology changes everything,” Altman wrote, comparing the rise of AI to the spread of electricity in the early 20th century. “This is happening again with AI. AI will soon be capable of extraordinary things. But the point is not the technology by itself. The point is what people can do with it.”

Altman said OpenAI believes AI should help individuals navigate everyday challenges, from healthcare and education to business creation and scientific discovery. “We think AI should be available to everyone to use as much as they need, where and how they need it,” he said.

Altman also addressed growing concerns around the concentration of power in the AI industry, where a small number of companies currently control the most advanced models and computing infrastructure.

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“Our first commitment is to build AI in service of humanity,” Altman said. “That means we want to empower people broadly, not see power concentrated among a few companies, governments, or individuals.”

He added that OpenAI believes “the safer future is one where power is broadly distributed,” allowing more participants to contribute to what he described as a resilient AI ecosystem.

The post also provided one of the clearest timelines yet for OpenAI’s internal expectations around AI-driven research. According to Altman, the company believes artificial intelligence systems could soon play a meaningful role in advancing AI research itself.

“Our internal belief is that by March of 2028 we may have a significant fraction of our research being done by AI systems in tandem with our own researchers,” he wrote.