OpenAI prepping huge ChatGPT update, plans to turn it into a superapp ahead of IPO

OpenAI is reportedly planning a major ChatGPT overhaul as Anthropic moves ahead with a confidential IPO filing. The shift sharpens attention on how both companies are positioning for enterprise growth and public-market scrutiny.

In Short

• OpenAI plans its biggest ChatGPT overhaul to date
• Anthropic's IPO filing has intensified AI industry competition
• Wall Street may become the next AI battleground

For years, OpenAI and Anthropic have been locked in a fierce battle for AI supremacy. The two companies have competed for top researchers, billions of dollars in funding, and bragging rights over the world's most powerful AI models. Now, they are competing to get to Wall Street first. The latest sign comes from OpenAI's reported plans to transform ChatGPT. According to a Financial Times report, the company is working on its biggest ChatGPT overhaul yet. OpenAI plans to evolve the chatbot into an AI "superapp" that combines coding tools, AI agents, and other productivity features.

The goal is not just to make ChatGPT more useful, but also to create new revenue streams as OpenAI increasingly targets enterprise customers.

More than just a ChatGPT upgrade

OpenAI's reported ChatGPT overhaul appears to be about more than product innovation. The company is said to be reorganising internally, shifting resources toward enterprise customers and sharpening its competitive position against Anthropic. Turning ChatGPT into a platform for AI agents and business tools could help OpenAI present itself not merely as a creator of cutting-edge AI models, but as a company with a clear path to sustained revenue growth, which will be a key consideration for public-market investors.

The IPO race gains momentum

The reported changes come at a particularly interesting moment. Last month, multiple reports suggested that OpenAI was preparing to confidentially file IPO paperwork with the US Securities and Exchange Commission. Then, Anthropic surprised the industry by announcing that it had already submitted a confidential draft S-1, taking a major step toward what could become one of the largest technology IPOs in history.

Because confidential filings remain private, Business Insider says, some industry observers believe OpenAI may have already filed its own paperwork without making any public announcement. If that is the case, the race between the two AI giants could be much closer than it appears.

Why going public first matters

Going public first carries significant advantages. The first AI company to reach public markets could enjoy stronger investor demand, provide liquidity to employees, and potentially shape how Wall Street values the entire AI sector. In many ways, the first major AI IPO could establish the benchmark against which every future AI company is measured.

But being first also comes with risks.

The company that debuts first will face intense scrutiny from regulators, investors, and analysts. It will have to answer difficult questions about profitability, AI safety, infrastructure spending, and long-term business sustainability. Meanwhile, competitors would gain the opportunity to study investor reactions and fine-tune their own public-market strategy.

Sam Altman downplays the competition

OpenAI CEO Sam Altman, however, has downplayed suggestions of an IPO race. Speaking to CNBC following Anthropic's filing announcement, Altman said he does not view going public as a competition.

"I think there is a race to deliver the best technology and build the best business," Altman said. "But going public is a financing event, and I don't think that's one that we're focused on the timing of."

Altman also argued that the AI market will be large enough to support multiple winners rather than a single dominant provider.

- Ends