News — 2026-05-21

OpenAI, the creator of ChatGPT, is gearing up for an initial public offering within days or weeks, according to a Wall Street Journal report. The AI firm has enlisted Goldman Sachs and Morgan Stanley to draft filing paperwork that could be submitted as early as Friday, with a possible market debut as soon as September. The move follows the dismissal of Elon Musk’s lawsuit against CEO Sam Altman and reflects the company’s desire to raise capital for the massive compute power needed to train next‑generation models. Investors will watch closely to see whether revenue growth can keep pace with OpenAI’s soaring expenses. Read more

OpenAI announced that a general‑purpose reasoning model has produced an original proof that overturns a geometry conjecture posed by Paul Erdős in 1946. The company says the breakthrough demonstrates AI’s ability to carry out long, complex chains of reasoning without being tailored for mathematics, a claim that draws both praise from several mathematicians and skepticism after a previous, premature claim by a former OpenAI executive. Read more

At a Y Combinator event on Tuesday night, OpenAI CEO Sam Altman announced a novel financing deal: each of the 169 companies in the current batch will receive $2 million worth of OpenAI tokens in exchange for equity via an uncapped SAFE. The move, designed to lower AI infrastructure costs and tether startups to OpenAI’s platform, has sparked both enthusiasm and caution among founders and investors. Read more

Anthropic has signed a three‑year contract with Elon Musk's xAI to purchase the entire 300‑megawatt output of the Colossus 1 data center near Memphis, Tennessee. The deal, disclosed in SpaceX’s S‑1 filing, obligates Anthropic to pay $1.25 billion per month through May 2029, with a discounted rate for the first two months. The agreement could generate more than $40 billion in revenue for xAI and includes a 90‑day termination clause for either party. Industry observers see the arrangement as a rare "neocloud" model that lets AI firms monetize idle compute capacity. Read more

Anthropic told investors it expects to more than double its second‑quarter revenue to about $10.9 billion and post an operating profit for the first time, the Wall Street Journal reported. The AI startup’s rapid growth puts it ahead of rival OpenAI, but analysts warn that hefty compute expenses could erase the profit later in the year. Anthropic declined further comment as the news coincided with reports that OpenAI may soon file for an IPO. Read more

Elon Musk’s artificial‑intelligence unit xAI posted a $6.4 billion operating loss on $3.2 billion of revenue for 2025, according to SpaceX’s recent IPO filing. The filing also reveals plans to scale the Grok model to “multiple trillions of parameters,” a move that will drive even higher compute costs. While the combined SpaceX‑xAI enterprise eyes a potential $1.75 trillion market debut, user adoption of Grok remains modest, with only about one‑fifth of the 550 million monthly active users across the ecosystem engaging the AI features. Read more