OpenAI, the creator of ChatGPT, has confidentially filed with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO), intensifying its competition with rival Anthropic, which also plans to go public.

• OpenAI's most recent private valuation was $852 billion.
• The tech giant indicated its IPO timing is undecided as they pursue an eventual stock market debut.
• Both companies are vying for investors and aim to secure billions in capital to fund high "compute" costs associated with AI development.