SAN FRANCISCO, June 8, 2026, 06:10 PDT
OpenAI is working on its most significant update yet for ChatGPT, aiming to expand the chatbot into a wider “superapp” packed with coding features and AI agents, the Financial Times reported Sunday. The move comes as the company looks to sharpen its revenue pitch ahead of a potential public offering. Reuters was unable to independently confirm the Financial Times report, and OpenAI did not reply to Reuters’ request for comment. Reuters
OpenAI is feeling the squeeze to prove that ChatGPT can drive real business, not just rack up users. Rival Anthropic has quietly put in paperwork for a U.S. IPO, nudging it in front of OpenAI in the contest to debut as the first big frontier AI model player on public markets.
Back in May, Reuters said OpenAI was gearing up for a confidential U.S. IPO filing within weeks, tapping Goldman Sachs and Morgan Stanley to put together a draft prospectus. If things move quickly, a listing could come as soon as September. With a confidential filing, OpenAI gets to kick off the IPO process without immediately revealing detailed financials.
ChatGPT is getting a revamp that puts Codex—OpenAI’s tool for code—and AI agents front and center. These agents handle multi-step jobs instead of sticking just to Q&A. According to the FT, the overhaul’s set to hit ChatGPT’s site and apps first. Prompts will nudge people toward coding, image tools, and partners like Canva and Booking.com.
OpenAI calls Codex a coding agent, pitching it as a tool for building and shipping software with AI. The company’s help center spells out that Codex is meant to write, review, and ship code—a clear indicator of where OpenAI expects paying customers to show up.
The enterprise angle is key here. According to the FT, as picked up by Reuters, a majority of Codex users are paying customers, with around 2 million businesses generating roughly 40% of OpenAI’s revenue—a proportion OpenAI expects could climb to 50% by year-end. Earlier this year, OpenAI reported ChatGPT was pulling in over 900 million weekly active users, along with more than 50 million consumer subscribers.
Back in March, OpenAI reported locking in $122 billion in committed capital, putting its post-money valuation at $852 billion. The company also disclosed monthly revenue of $2 billion, with enterprise clients driving over 40% of that haul.
Competition has gotten fierce in a hurry. Last week, Anthropic—the company behind Claude and Claude Code—revealed it had put in a confidential U.S. IPO filing. Reuters noted the latest fundraising round in late May pegged Anthropic’s valuation at $965 billion. Google is still firmly in the mix too, with its Gemini line pushing into both consumer and enterprise AI, vying head-to-head for users and business spending.
“Resolving that legal overhang removed a major obstacle to an IPO and likely gave OpenAI the confidence to accelerate its timeline,” said IPOX Vice President Kat Liu, after OpenAI beat back Elon Musk’s court challenge in May. OpenAI stayed quiet at the time, while the Wall Street Journal broke news of its IPO preparations that day. Reuters
OpenAI finds itself in a tricky spot after Anthropic’s latest step. “Anthropic just seized the narrative advantage by filing first,” PitchBook senior analyst Harrison Rolfes said to Reuters. Still, he noted, OpenAI now gets a look at investor sentiment toward Anthropic’s audited numbers before pegging its own valuation. Reuters
Simply giving ChatGPT a bigger spotlight doesn’t answer tough questions investors care about: Can revenue really keep accelerating? Will enterprise clients stick around? And what about those heavy computing bills—can they be tamed? In February, Amazon announced a $50 billion investment in OpenAI, while OpenAI and AWS also expanded an earlier $38 billion cloud deal by another $100 billion over eight years. That move puts the immense scale—and cost—of the tech stack front and center.
Sam Altman, CEO of OpenAI, brushed aside talk of a race after Anthropic’s filing, telling Reuters that IPO timing isn’t the company’s priority and they’ll go public when the timing’s right. For now, Wall Street is left scanning for two key signals: a ChatGPT revamp that could help OpenAI sharpen its case to investors, and, eventually, a filing that would pull back the curtain on the financials of one of Silicon Valley’s most closely watched startups.
