John Rudich

NPR's John Rudich reports.

OpenAI's plans to list shares on the stock exchange have been an open secret for a while now.

But they've taken the first step, saying they submitted confidential paperwork, joining a wave of blockbuster IPOs this year.

The move comes after competitor Anthropic, which makes the clawed AI models, filed the same paperwork about a week ago.

And Elon Musk's company SpaceX, which does rockets, satellite communication, social media and AI, is poised for its own initial public offering of shares to the public later this week.

OpenAI says it has not decided on the timing yet and says it may be a while because there are things the company wants to do that are likely easier as a private company.

The filing, it says, gives it the option to go public sooner if that ends up being the best thing.

John Rewich, NPR News.