Rp 15,000 Trillion Tech Giant OpenAI Plans IPO, Set to Make History
The artificial intelligence giant OpenAI has secretly filed for an initial public offering (IPO), a move that sets the stage for one of the most anticipated market debuts in modern history. This major decision also holds the potential to provide extraordinary returns for their early investors.
According to reports, this decision follows closely after OpenAI’s primary rival, Anthropic, announced plans to list on the stock exchange. OpenAI’s move also precedes the planned debut of SpaceX, scheduled for this coming Friday. These three upcoming listings are expected to generate massive sales reaching hundreds of billions of US dollars, presenting a significant opportunity for retail investors to purchase shares in the most popular AI startups and serving as a major test of market appetite for AI companies.
OpenAI has stated that it has not yet decided on a definitive timeline for the IPO. The registration documents are confidential, meaning the number of shares to be sold is not yet known to the public, and the expected price range remains unclear. The company noted that the process might take some time as there are certain objectives easier to achieve as a private company, but added that the confidential filing provides the option to go public more quickly if it proves to be the best path.
The transition to a public company will provide Wall Street with a window into OpenAI’s finances, occurring amidst the company’s multi-billion dollar investments in AI infrastructure and computing resources. OpenAI was last valued at US$852 billion (approximately Rp 15,336 trillion) after successfully raising US$122 billion in March. However, the company now faces immense pressure to prove its ability to generate cash flow consistent with such a high valuation.
OpenAI has been expanding its monetisation options for ChatGPT, its flagship chatbot, by launching cheaper US$8 plans and introducing advertising. These initiatives are expected to drive subscriber numbers towards 122 million this year, with advertising projected to be their largest revenue driver by 2030. Beyond ChatGPT, the company has released a web browser, announced plans for consumer hardware, and introduced AI agents capable of coding and managing applications.
Despite the momentum, the path to an IPO is not without obstacles. OpenAI faces intense competition from rivals such as Anthropic and Google, as well as legal challenges regarding the role of ChatGPT in certain social incidents. Furthermore, the company must navigate general consumer backlash against AI technology and the aftermath of the leadership crisis involving CEO Sam Altman in 2023. Notably, Anthropic’s valuation recently surged past OpenAI’s during a funding round in May, reaching US$965 billion, underscoring the fierce competition within the sector.