OpenAI filed confidential paperwork with the Securities and Exchange Commission for an initial public offering, the company announced Monday. 

OpenAI’s announcement caps off a race among artificial intelligence behemoths to garner investor interest. Claude-maker Anthropic filed to go public on June 1, while competitor SpaceX will debut on the Nasdaq on June 12. OpenAI’s announcement will test whether investors are willing to stomach yet another IPO in the industry amid fears of an AI bubble.