OpenAI said it confidentially submitted an S-1 registration statement to the U.S. Securities and Exchange Commission, beginning the formal process for a possible initial public offering by the ChatGPT maker. The company did not disclose the offering's size, terms or timetable and said it announced the filing because it expected the information to leak. Reuters reported that OpenAI is targeting a valuation of up to $1 trillion in a stock-market debut that could come as early as September. The ...

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