OpenAI on Monday checked off a preliminary step in the IPO race that it and rival Anthropic have been competing in for the better part of a year: The company announced it has confidentially submitted a Form S-1 with the US Securities and Exchange Commission, following Anthropic's decision to do the same on June 1st.
The confidential filing means that certain details normally available through the form - such as executive compensation figures, potential risks to a company's business, and more financials - aren't yet public.
As of Anthropic's most recent fundraise, it's being called the world's most valuable startup, with a post-money valu …