According to Axios, AI giant OpenAI is starting to allow individual investors to access its stock, months before the company's expected initial public offering (IPO). This change is primarily achieved through an exchange-traded fund (ETF) provided by ARK Invest, led by prominent investor Cathie Wood, whose venture capital arm previously invested in OpenAI. This move gives ordinary investors a chance to participate in OpenAI's growth without waiting for the formal IPO.
OpenAI CFO Sarah Friar stated that the company remains committed to its mission of "Artificial General Intelligence (AGI) benefiting humanity" and is exploring ways to improve accessibility. Meanwhile, Amazon's remaining $35 billion commitment is conditional on OpenAI meeting specific terms, including completing an IPO by the end of 2028. Additionally, OpenAI has onboarded a new set of institutional investors in this funding round, covering the remaining $7 billion to further solidify its capital base.
