US artificial intelligence company OpenAI announced on Monday that it has confidentially filed a draft registration statement on Form S-1 with the US Securities and Exchange Commission (SEC), as a first step toward a potential initial public offering.
The company stated in the announcement that it has not yet decided on the timing of the public listing.
The filing gives OpenAI the option to go public sooner if it deems it profitable.
OpenAI said the announcement was made pursuant to Rule 135 under the Securities Act of 1933, and does not constitute an offer to sell or a solicitation of an offer to buy any securities
Future offerings of securities will be made only by means of a registration statement filed with the SEC.
The move comes as leading artificial intelligence companies face increasing capital needs for computing infrastructure and product development.
