# OpenAI files a week after Anthropic, and nobody can agree what it's worth

> OpenAI filed a confidential IPO on 8 June 2026; reported targets swing from ~$730B to ~$1T.

*$730bn? $850bn? A trillion? Pick a number — they did.*

By The InsidersFeed Desk · InsidersFeed
Canonical: https://insidersfeed.com/industry/openai-ipo-nobody-agrees-the-value

> **Key:** **The take:** when the reported valuation for the same company ranges from $730B to a trillion dollars, that's not analysis — that's vibes. OpenAI filed confidentially, so everyone's guessing, loudly.

Right on cue, eight days after Anthropic, **OpenAI** announced on X that it submitted a **confidential S-1**. Same playbook, same secrecy, same week. The two biggest names in AI are now racing each other to a listing — and the choreography is hard to miss.

## Pick a valuation, any valuation

Reported targets run from **~$730B to ~$850B**, and some outlets push toward **~$1 trillion**. That's a quarter-trillion-dollar spread on a single company. The reason is simple: the filing is confidential, so reporters are triangulating from sources, and the numbers wander accordingly. **Goldman Sachs** and **Morgan Stanley** are the reported underwriters (with JPMorgan in the mix) — the banks that get paid more the bigger the number prints.

> **Note:** **To be fair:** OpenAI is genuinely one of the most valuable private companies on Earth, and confidential filing is bog-standard. We're not saying the IPO is fake — we're saying the *precision* in the headlines is, and you should round every figure down to 'enormous, exact value TBD'.

## Why race to file

Bloomberg pegs the broader AI-IPO pipeline at around **$3.6 trillion**. In a wave that big, you don't want to be the laggard listing into exhausted demand. So both labs file early, set the story, and keep their options open while saying the timing is 'undecided' (OpenAI's word). Translation: they'll go when the market looks hungriest — and not a day before.

## FAQ

### What's OpenAI actually worth?
Nobody outside the process knows — reports range from ~$730B to ~$1T, which is the giveaway. The S-1 is confidential, so any precise figure is an estimate, not a disclosure.

### Is OpenAI copying Anthropic?
It filed eight days later with the same confidential approach. Whether that's strategy or coincidence, the effect is a two-horse race to list — and a strong incentive for both not to go last.