OpenAI files paperwork for initial public offering

June 8 (UPI) -- Artificial intelligence company OpenAI confidentially filed for an initial public offering Monday, becoming the third in a well-known trio of U.S. AI companies to do so in the past few weeks.

Rival AI company Anthropic filed for an IPO on June 1, and SpaceX (which merged with xAI, also owned by Elon Musk) filed in late May. SpaceX's debut is set for Friday. All three are expected to be very lucrative for early investors, as they have valuations around $1 trillion, Axios reported.

OpenAI said in a post that there has been no decision on the IPO's timing yet.

"It may be a while because there are things we want to do that are likely easier as a private company," the post said.

Related

• OpenAI CEO Altman to meet with politicians, officials in D.C.
• Anthropic confidentially files for initial public offering
• Trump signs executive order limiting states ability to regulate AI

The company has had both successes and trials in recent months, CNN reported. Musk lost a lawsuit against it in mid-May because of the statute of limitations, and the company has expanded ChatGPT options and other AI tools and programs.

However, the company and founder/CEO Sam Altman are also facing lawsuits because of ChatGPT's role in recent shootings and other issues. Florida announced last week that it is suing the company and Altman, claiming the company chose "profits over public safety" in creating a dangerous product in the form of ChatGPT. The state also has an ongoing criminal investigation into the company.

Individuals including the family members of those killed or injured in a recent school shooting have also sued, saying that the company should have warned authorities about the shooter's interactions with ChatGPT.