Another mega technology stock market listing in the United States has moved closer, with OpenAI confidentially submitting a draft registration statement to the United States Securities and Exchange Commission (SEC).
The privately-owned maker of the ChatGPT chatbot joined the path followed by fellow artificial intelligence (AI) research company Anthropic, which last week also submitted a Form S-1 to the SEC.
The AI giant is targeting a valuation of up to US$1 trillion (A$1.41 trillion) in a stock market debut as soon as September, according to this Reuters report.
"We recently submitted a confidential S-1. We expect it to leak so we're just announcing it," OpenAI said in a statement.
"We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company."
The filing gives OpenAI the flexibility to pursue an initial public offering (IPO) and stock market debut while remaining privately owned.
Investor demand for AI businesses is set to be tested by the looming IPOs of OpenAI, Anthropic and Elon Musk's SpaceX, which plans to raise $75 billion at a record $1.75 trillion valuation.
OpenAI's valuation has been climbing quickly, having raised $110 billion at a valuation of $840 billion earlier this year as its revenue and capital expenditure surges.
OpenAI was founded in 2015 as a research-focused non-profit organisation, but created a for-profit arm four years later to help fund the soaring costs of developing AI systems.
Anthropic, which makes the Claude chatbot, has not disclosed the size or terms of its IPO, but in May became the world’s most valuable private AI company when it raised $65 billion at a valuation of $965 billion.
