The S-1: "We Expect It to Leak So We're Just Announcing It"

One week after Anthropic, OpenAI confidentially filed its own draft S-1 and announced it with the line of the month: "We expect it to leak so we're just announcing it." Goldman Sachs and Morgan Stanley reportedly lead, with chatter of a $1 trillion-plus valuation against the last private mark of $852B, and the option to list as early as September.

Three frontier-adjacent S-1s in eight days (Anthropic June 1, OpenAI June 8, SpaceX pricing June 11). The exit liquidity has been located, and it's you.

Sources: official announcement, CNBC, Fortune