OpenAI Files Confidential S-1 With the SEC at a Reported $852B Valuation

OpenAI Blog·high signal

OpenAI confirmed it submitted a confidential draft S-1 to the SEC on June 8, its first formal step toward an IPO, while stressing it 'has not decided on timing yet.' Reporting pegs the filing at an ~$852B post-money valuation (carried over from the ~$122B round closed in March), with Goldman Sachs and Morgan Stanley as underwriters, a rumored September 2026 debut, and ChatGPT cited at ~900M weekly users. The move follows Anthropic's own confidential S-1 on June 1 and a May jury win clearing OpenAI's Public Benefit Corporation restructuring.