OpenAI, the parent company of ChatGPT, formally filed a confidential IPO application with the U.S. Securities and Exchange Commission (SEC) on June 8, becoming the second AI super unicorn to pursue a public listing after Anthropic. Driven by approximately 900 million weekly active users, OpenAI is expected to debut with a valuation nearing $1 trillion. Founded in December 2015 by tech leaders including Sam Altman, Elon Musk, and Peter Thiel, OpenAI is headquartered in San Francisco. The company initially operated as a non-profit research institution before transitioning into a "capped-profit" hybrid structure in 2019. Its products include GPT-3, ChatGPT, GPT-4, DALL·E, and Sora, with GPT-5 already in internal testing. According to media reports, OpenAI could formally list on Nasdaq or the NYSE as early as the fourth quarter of 2026. The company has held discussions with Goldman Sachs and Morgan Stanley regarding underwriting, subsequently including Citigroup and JPMorgan Chase in the syndicate. Prior to the IPO, OpenAI plans to launch an employee share transfer program. The timeline shows that in February 2026, OpenAI completed a $40 billion financing with a valuation exceeding $300 billion, and in May 2026, it completed a $122 billion financing, reaching a valuation of $852 billion.