OpenAI files confidential S-1 with the SEC, has not decided timing yet

Summary

CNBC's Kate Rooney reports that OpenAI has confidentially filed an S-1 with the SEC for an IPO, describing it as potentially one of the largest in history. The company has not decided on timing and is also considering an employee tender offer for liquidity. The filing comes days before SpaceX trading and after competitor Anthropic also filed confidentially.

• OpenAI confidentially filed an S-1 with the SEC for an IPO.
• The company has not decided on the timing of going public.
• OpenAI is eyeing an employee tender offer in the coming weeks or months.
• The IPO could be one of the biggest in history.
• Timing will depend on market conditions.
• Competitor Anthropic also filed confidentially with the SEC.
• SpaceX is set to start trading in a week.
• Investors say there is pressure to get ahead of Anthropic.