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commerce
shāng yè
商业
·HSK 5

OpenAI (AI research company)
OpenAI
OpenAI
confidentially / in secret
mìmì
秘密
to / toward
xiàng
向
United States
Měiguó
美国
securities
zhèngquàn
证券
Exchange Commission
jiāoyì wěiyuánhuì
交易委员会
to submit / to file
tíjiāo
提交
public listing / IPO
shàngshì
上市
application
shēnqǐng
申请
。

OpenAI (AI research company)
OpenAI
OpenAI
on (date)
yú
于
May 22nd
5 yuè 22 rì
5月22日
confidentially
mìmì
秘密
to
xiàng
向
U.S. Securities and Exchange Commission (SEC)
Měiguó Zhèngquàn Jiāoyì Wěiyuánhuì
美国证券交易委员会
to file / submit
tíjiāo
提交
completed action marker
le
了
IPO prospectus (S-1)
zhāogǔ shuōmíngshū
招股说明书
，
target / aim
mùbiāo
目标
at / by
yú
于
year 2026
2026 nián
2026年
the fourth quarter
dì sì jìdù
第四季度
to complete
wánchéng
完成
stock market listing
shàngshì
上市
。

May 30, 2026 at 2:00 PM

OpenAI (AI research company)
OpenAI
OpenAI
on
yú
于
May 22nd
5 yuè 22 rì
5月22日
confidentially
mìmì
秘密
to
xiàng
向
U.S. Securities and Exchange Commission (SEC)
Měiguó Zhèngquàn Jiāoyì Wěiyuánhuì
美国证券交易委员会
to submit
tíjiāo
提交
completed action marker
le
了
IPO prospectus
zhāogǔ shuōmíngshū
招股说明书
，
formally
zhèngshì
正式
to launch / to initiate
qǐdòng
启动
stock market listing
shàngshì
上市
process / procedure
chéngxù
程序
。
the company
gāi gōngsī
该公司
target / aim
mùbiāo
目标
valuation
gūzhí
估值
to fall between
jièyú
介于
$852 billion
8520 yì
8520亿
to / up to
zhì
至
$1 trillion
1 wàn yì měiyuán
1万亿美元
between
zhījiān
之间
，
planned for
nǐ yú
拟于
year 2026
2026 nián
2026年
Q4
dì sì jìdù
第四季度
on
zài
在
New York
Niǔyuē
纽约
to list / go public
shàngshì
上市
。
Goldman Sachs
Gāoshèng
高盛
and
hé
和
Morgan Stanley
Mógēn Shìdānlì
摩根士丹利
will (future marker)
jiāng
将
to serve as
dānrèn
担任
this
cǐcì
此次
listing
shàngshì
上市
structural particle
de
的
lead underwriter
zhǔ chéngxiāoshāng
主承销商
，
OpenAI
OpenAI
OpenAI
plans to
nǐ
拟
to raise capital
róngzī
融资
$60 billion
600 yì měiyuán
600亿美元
。
as of
jiézhì
截至
this year
jīnnián
今年
March
3 yuè
3月
，
OpenAI
OpenAI
OpenAI
annualized
niánhuà
年化
revenue
yíngsōu
营收
has already reached
yǐ dá
已达
$25 billion
250 yì měiyuán
250亿美元
，
compared to
jiào
较
year 2024
2024 nián
2024年
structural particle
de
的
$6 billion
60 yì měiyuán
60亿美元
significantly / by a large margin
dàfú
大幅
to grow / growth
zēngzhǎng
增长
。
however
rán ér
然而
，
the company
gāi gōngsī
该公司
profitability
yínglì
盈利
outlook / prospects
qiánjǐng
前景
still
réng
仍
not optimistic / bleak
bù róng lèguān
不容乐观
，
it is estimated / expected
yùjì
预计
year 2026
2026 nián
2026年
operating loss
kuīsǔn
亏损
will
jiāng
将
to reach
dá
达
$14 billion
140 yì měiyuán
140亿美元
。
Chief Executive Officer
shǒuxí zhíxíngguān
首席执行官
Sam Altman
Shānmǔ Aòěrtèmàn
山姆·奥尔特曼
to state
biǎoshì
表示
，
to hope / to expect
xīwàng
希望
company
gōngsī
公司
at the earliest
zuì kuài
最快
in
yú
于
September of this year
jīnnián 9 yuè
今年9月
to complete
wánchéng
完成
listing
shàngshì
上市
。
this
cǐcì
此次
if
ruò
若
successfully
chénggōng
成功
listed
shàngshì
上市
，
OpenAI
OpenAI
OpenAI
will
jiāng
将
to become
chéngwéi
成为
United States
Měiguó
美国
in history
lìshǐ shàng
历史上
scale / size
guīmó
规模
largest
zuì dà
最大
structural particle
de
的
technology stock / tech IPO
kējì gǔ
科技股
public listing
shàngshì
上市
one of
zhī yī
之一
。

New Words

OpenAI
OpenAI
OpenAI
zhāogǔ shuōmíngshū
招股说明书
IPO prospectus
shàngshì
上市
public listing
gūzhí
估值
valuation
róngzī
融资
to raise capital
yíngsōu
营收
revenue
kuīsǔn
亏损
operating loss
shǒuxí zhíxíngguān
首席执行官
CEO
kējì gǔ
科技股
technology stock
chéngxiāoshāng
承销商
underwriter

News in English

Business

OpenAI Files Confidential IPO Prospectus With SEC Targeting Late 2026 Debut

OpenAI filed a confidential IPO prospectus with the SEC on May 22, targeting a Q4 2026 debut at a valuation of up to $1 trillion.

OpenAI confidentially submitted its IPO prospectus to the United States Securities and Exchange Commission on May 22, formally launching the public listing process. The company's target valuation is between 852 billion dollars to 1 trillion dollars, planned to list on the New York stock exchange in the fourth quarter of 2026. Goldman Sachs and Morgan Stanley will serve as lead underwriters, with OpenAI planning to raise 60 billion dollars. As of March this year, OpenAI's annualized revenue has reached 25 billion dollars, a significant increase from 6 billion dollars in 2024. However, the company's profitability prospects remain bleak, with 2026 operating losses projected to reach 14 billion dollars. CEO Sam Altman hopes the company will complete listing as early as September this year. If successfully listed, OpenAI will become one of the largest technology stock public offerings in United States history.

More in Business

China
zhōngguó
中国
plan
jìhuà
计划
2026
2026 nián
2026年
artificial intelligence
AI
AI
chip
xīnpiàn
芯片
production capacity
chǎnéng
产能
triple
fān sānbèi
翻三倍
。

China Targets Tripling AI Chip Production in 2026 to Counter Nvidia Dependence

China
zhōngguó
中国
artificial intelligence
AI
AI
chip
xīnpiàn
芯片
manufacturers
zhìzàoshāng
制造商
revenue
yíngshōu
营收
significantly
dàfú
大幅
grow
zēngzhǎng
增长
。

Chinese AI Chipmakers Report Soaring Revenue Growth in 2026 Earnings Season

United States / American
Měiguó
美国
July
7 yuè
7月
Consumer Price Index (CPI)
CPI
CPI
only / merely
jǐn
仅
to rise / to go up
shēng
升
0.1 percent
0.1%
0.1%
，
interest rate hike
jiā xī
加息
worry / concern
dānyōu
担忧
to ease / to alleviate
huǎnjiě
缓解
。

US July CPI Rises Just 0.1 Percent as Tame Inflation Data Boosts Markets

Trian Fund Management (investment firm)
Tèlǐān Jījīn
特里安基金
to plan / plan
jìhuà
计划
to acquire / takeover
shōugòu
收购
Wendys (fast-food chain)
Wēndí
温迪
，
stock price
gǔjià
股价
to rise / to go up
shàngzhǎng
上涨
13 percent
13%
13%
。

Trian Fund Prepares Bid to Take Wendys Private as Stock Jumps 13 Percent