“We have not decided on timing yet,” OpenAI said in a news release, adding that “it may be a while because there are things we want to do that are likely easier as a private company.”

SoftBank Group Corp.’s talks with potential creditors to raise at least $6 billion from a margin loan backed by its OpenAI stake have stalled, people familiar with the matter said, just weeks after the Japanese conglomerate cut its initial target from $10 billion.

As Sam Altman ’s OpenAI moves closer to an IPO, another one of his ventures is scaling back. On Monday, Tools for Humanity, the eyeball-scanning company Altman co-founded in 2019, announced layoffs. New “priorities” were cited as the primary reason for the workforce reduction.

ChatGPT-maker OpenAI confidentially filed for a U.S. initial public offering, joining rival Anthropic in a push toward the stock market.

Investors are closely watching whether OpenAI and Anthropic can justify their lofty valuations.

Last week, Anthropic, valued at almost a trillion dollars, filed to go public. Yesterday, its chief rival OpenAI confidentially filed for an initial public offering. Later this week, SpaceX is set to go public in what could be the largest IPO ever.

Sam Altman wants to gift some of his firm to a wary ​US public. A recent ​reshuffle left $222 bln of shares in ⁠a non-profit arm separate from ​investors, a tempting pot to tap. ​Handing it to the White House would ease an AI backlash.