The confidential S-1 filing is a calculated move to exit while hype is at its peak.
The trillion dollar valuation is detached from reality as AI search interest has begun to plateau.
OpenAI is rushing to market immediately after Anthropic to capture the last remaining pool of institutional capital.
The massive cash burn for server infrastructure is unsustainable without constant infusion of new investor money.
Retail investors are being set up to hold the bag before the next inevitable correction in tech spending.
Public disclosure will likely expose that revenue growth is not keeping pace with the exponential costs of model training.
AI adoption is hitting a wall because corporations cannot find a way to monetize these agents beyond simple chatbots.
The IPO is an exit strategy for early venture backers who need to cash out before the bubble completely bursts.
Trading will start later this year but the fundamentals suggest a long term decline for those buying at the top.