OpenAI has confidentially filed for an initial public offering, setting it up for what may be the most highly anticipated market debut in recent history and a massive payday for early investors.

The company hopes to raise billions in a highly anticipated public offering that could unlock a new generation of tech industry wealth.

"We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company. But it's a complicated set of tradeoffs and this gives us the ...