OpenAI has filed confidential documents for an initial public offering with U.S. regulators, targeting a valuation that could approach $1 trillion and a potential listing in September 2026. The filing follows a quarter in which the firm posted $5.7 billion of revenue while spending $3.7 billion on operating costs, indicating a sizable cash burn as it scales. Investors will weigh the brand’s global recognition against the need for sustained capital inflows.
OpenAI's Financial Profile
The company’s