The company also filed confidentially with the Securities and Exchange Commission in June to prepare for a potential IPO later this year. However, a tender offer suggests that an IPO may not be forthcoming soon. With many tech companies remaining private longer than previous generations of startups, private tenders have proven a useful way for firms to allow employees to realize the value of their stock compensation without the difficulties that come with a public offering. Last month, OpenAI CEO Sam Altman wrote that 'we did not have our best 12 months ever, which is mostly my fault, but we are about to have our best 12 months to date.' Firms going public typically want to show strong financial results to bring investors on board, and the Wall Street Journal reported in April that the company missed internal financial goals. While OpenAI's incredible growth and products are likely to generate massive interest in public markets, the potential debut of rival Anthropic ' which was...
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