OpenAI Files Confidential S-1, Calls It the 'Third Phase' of the Company
OpenAI confirmed June 8 it submitted a confidential draft S-1 to the SEC, one week after Anthropic's filing, with Goldman Sachs and Morgan Stanley leading. Sam Altman framed it as OpenAI's 'third phase,' moving from research to products to economy-wide AI. OpenAI is valued at $852B after a March round, reports $20B+ ARR, and projects a $14B loss in 2026 with profitability not expected until 2029.
OpenAI confirmed June 8 it submitted a confidential draft S-1 to the SEC, one week after Anthropic's filing, with Goldman Sachs and Morgan Stanley leading. Sam Altman framed it as OpenAI's 'third phase,' moving from research to products to economy-wide AI. OpenAI is valued at $852B after a March round, reports $20B+ ARR, and projects a $14B loss in 2026 with profitability not expected until 2029.
Source: Fortune · 2026-06-09 · https://fortune.com/2026/06/09/openai-files-confidential-s-1-sec-ipo/
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