As the tech mega-IPO race heats up, has OpenAI missed its moment?

Key points

• A year is a long time in AI.
• Just 12 months ago, Sam Altman was predicting his company OpenAI would build a super intelligence and fundamentally remake society.
• Now the boss of the ChatGPT developer is walking back those ideas after failing to make money from and erotic chatbots.
• Meanwhile, rivals are storming ahead with plans to expand and go public on the stock market, in what is widely expected to be a season of record-setting initial public offerings (IPOs).
• Elon Musk’s SpaceX, which owns xAI, is going to float this month, while Anthropic confidentially filed for an IPO on Monday in what the New York Times said could be a “once in a generation” moment for Wall Street.