OpenAI 已向美国证券交易委员会秘密提交首次公开募股（IPO）招股说明书草案，启动了这项可能使这家 ChatGPT 开创者估值超过 1 兆美元的重磅华尔街首秀。此次上市适逢 SpaceX 即将进行的 IPO，该交易旨在筹集创纪录的 860 亿美元，并使 Elon Musk 的航太与人工智慧集团估值达到 1.78 兆美元，同时 Claude 制造商 Anthropic 在其估值达到 9000 亿美元后也于上周提交了 IPO 申请。这些举措反映出投资者对人工智慧的极大热情，尽管存在市场过热的担忧，但这已推动美国股市创下一系列历史新高。
此次 IPO 将考验投资者对一家公司的需求，该公司的特点是营收快速增长，但由于对数据中心和计算基础设施的巨额投资，预计未来数年将持续面临巨大亏损。为了服务 ChatGPT 的 9 亿用户并加速研究，OpenAI 持续投入重金以与 Google 和 Anthropic 竞争。加州法院上个月驳回了 Elon Musk 对 OpenAI 及其负责人 Sam Altman 的诉讼，加上有关美国政府可能持股的讨论，进一步为该公司最早于秋季开始交易奠定了基础。
在公开上市之前，OpenAI 计划以目前 8520 亿美元的估值进行员工股票出售，以提供透明度。这家新创公司已经是世界上最有价值的私募公司之一，在 3 月份完成了高达 1220 亿美元的创纪录融资轮，其中包括向散户投资者筹集的 30 亿美元。在 Goldman Sachs 和 Morgan Stanley 的银行家协助下，当 OpenAI 在华尔街上市时，散户投资者将获得更广泛的投资机会。
OpenAI has submitted a confidential draft IPO prospectus to the US Securities and Exchange Commission, launching a blockbuster Wall Street debut that could value the ChatGPT creator at over $1 trillion. This listing coincides with SpaceX's upcoming IPO, which aims to raise a record $86 billion and value Elon Musk's conglomerate at $1.78 trillion, as well as Anthropic's recent IPO filing following its $900 billion valuation. These moves reflect intense investor enthusiasm for artificial intelligence, which has driven US stocks to record highs despite concerns of market overheating.
The IPO will test investor demand for a company characterized by rapid revenue growth alongside massive, multi-year projected losses from heavy investments in data centers and computing infrastructure. To support ChatGPT's 900 million users and accelerate research, OpenAI continues to invest heavily to compete with rivals including Google and Anthropic. A California court's dismissal of a lawsuit by Elon Musk against OpenAI and its chief Sam Altman, along with discussions regarding a potential US government stake, have further shaped the company's path toward trading as early as autumn. (Key numbers: 9)
Prior to the public debut, OpenAI plans an employee share sale at its current valuation of $852 billion to provide transparency. The startup is already among the world's most valuable private companies, having closed a record funding round of up to $122 billion in March, which included $3 billion raised from retail investors. Retail investors will receive broader opportunities to invest once OpenAI becomes publicly traded under bankers from Goldman Sachs and Morgan Stanley.