Sam Altman, CEO of OpenAI Inc., during a media tour of the Stargate AI data center in Abilene, Texas, USA, on Tuesday, September 23, 2025.
Kyle Grillot | Bloomberg | Getty Images
Hello, my name is Leonie Kidd and I’m from London. Welcome to today’s Daily Open Newsletter.
Achieved a mega IPO hat trick.
OpenAI has decided to release some details of its confidential documents “in advance of a leak.”
This comes in the same week as SpaceX prepares to begin trading on Friday, as it looks to the public markets along with its biggest rival Anthropic.
The move marks a historic moment in AI history, as the biggest companies seek to capitalize on the animal spirits that continue to drive markets to record highs.
What you need to know today
OpenAI has secretly filed for an IPO, joining Anthropic and SpaceX in turning its sights on the public market in what is believed to be the largest public offering in history.
OpenAI said in a statement: “We recently filed a confidential S-1. We’re only announcing this because we expect it to be leaked. We haven’t decided on timing yet. There are things we want to do as a private company, so it may take a while. But this is a complex trade-off, and we have the option to go public sooner if that’s the best outcome.”
The artificial intelligence company, which has a market capitalization of more than $850 billion, is preparing to go public as early as the fourth quarter of this year.
Perplexity CEO Aravind Srinivas also told CNBC that the group plans to go public in 2028, regardless of how the market perceives the mega-listings of OpenAI, Anthropic and SpaceX.
Meanwhile, Asian stock markets have followed Wall Street’s gains as investors have returned to AI stocks, and the broader technology sector has rebounded.
In the U.S., semiconductor stocks led gains on Monday, with the S&P 500 up 0.3%, while the tech-heavy Nasdaq Composite Index rose 0.86%, reversing some of last week’s losses as technology stocks widened their losses.
China trade growth exceeded expectations in May due to a surge in AI-related exports. Overall exports rose 19.4% from a year earlier, exceeding Reuters’ forecast of 15%.
Chinese exporters appear to be weathering the fallout from the Middle East conflict so far, as overseas buyers scramble to secure supplies before energy costs rise further.
“Negotiations within Iran and with Iran are continuing, and they’re not over yet. We may get an idea at least a day or two from now, but I think things are going well,” President Donald Trump said early Tuesday.
Hours after the Iranian military announced it was ceasing attacks on Israel, Israeli Prime Minister Benjamin Netanyahu said the war against Tehran and Lebanon-based Hezbollah was “not over yet.”
In Europe, Berlin is currently hosting SuperReturn International, the world’s largest gathering of voices from the private market. CNBC will be speaking with Thomas Bravo, Apollo, Ares, and many others over the next two days. All of these interviews are available on CNBC Pro.
— Leonie Kidd
