OpenAI Submits S-1 Draft to SEC

> 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.

Presumably those things were harder as a charity/non-profit.

I don’t get what’s the point of non-profits if you can IPO them. How does that make any sense?

Good thing they bought that podcast…

I have a feeling that as soon as OpenAI and Anthropic stocks are up for grabs, the market will implode.

This is like a slack message

Let me guess... wall street bets is going to pump $OPEN stock?

The cheap money for subsidizing tokens has begun to run out. Not all gone, yet, but it's getting harder to pretend the chatbots are cost-effective to run. Soon, they're going to need to tap a larger pool for money: Everyone's retirement accounts.

Here we go… Let’s see if retail investors are indeed exit liquidity or not

Elon is not going to be happy about this. He's been vocal about his dislike towards the business model OpenAI chose to run with.

I wonder how much of it is photos?

What was that Warren Buffett's quote about everyone trying to leave the party seconds before midnight in a room where there are no clocks? I think it was at peak of the dot com bubble

What a weird tone this is written in.

I have instructed my financial advisor to keep my exposure to the upcoming wave of AI IPOs as close to zero as possible.

so who is buying at the open? anthropic, spacex, openai

i think that we are going to see another leg up but this is gonna be it for a while

I'm just anticipating the next version of “Community-based EBITDA" that sama rolls out in the latest attempt to convince everyone that spending >$1 to earn $1 is a good idea.

I find the irony delicious that this S1 will be fed into ChatGPT so often looking for flaws and edge cases that the LLM will develop sentience just to tell people to stop…

When/how are IPO dates released?

Was this meant as an internal team post?

Starting the first three sentences with "We" does not pass the Voigh-Kampff / "I am not a robot" test.

This is the true definition of AGI and will be achieved this year.

The I in AGI has always stood for IPO.

"Hey, don't invest too much in Spacex or Anthropic. We're planning an IPO too."

> We recently submitted a confidential S-1. We expect it to leak so we’re just announcing it.

What?

Growing worry I have are the dozens of newly minted corporate elites that will continue to wreck havoc on the tech industry mandating their golden paths while America still lacks medicare for all, college for all, and universal childcare.

If you think Sam Altman is bad for the industry, imagine what 200 of him will be like!

"We want to be ready to grift public money at a moment's notice, but there are still opportunities to grift private money right now, so we are holding off."

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Here we go

why not let it be public ?

Too late.

Interest in the SpaceX, Anthropic, and OpenAI IPO is already dropping

What's the point of a "confidential S-1"?? Isn't the S-1 supposed to inform potential investors?!? So ... shouldn't it _not_ be confidential??

Would be hilarious if they used an LLM to write it and it started hallucinating revenue streams and numbers.

Companies IPOing should be forced to put up their estimated market cap as collateral in cash. Oh what is that? You don't have $1 trillion in cash to put up? Cool, you're not a $1 trillion dollar company then.