OpenAI files for IPO; AWS debuts a Graviton5 chip for AI agents

OpenAI says it has confidentially submitted a draft S-1 to the US Securities and Exchange Commission, the first formal step toward a public listing that analysts expect to value the company above $1 trillion. Goldman Sachs, Morgan Stanley, and JPMorgan are leading the offering, with a potential listing window between September and November. OpenAI was last valued at $852 billion and reported more than $20 billion in annualized revenue for 2025, though internal documents point to a roughly $14 billion loss in 2026 and no profit until 2029. The filing lands a week after Anthropic took the same step and as SpaceX prices its own record listing — a sign that the AI buildout is moving from private capital to public markets.

Amazon made its Graviton5 processor generally available, pitching it as purpose-built for the real-time reasoning, code generation, and multi-step orchestration that AI agents demand. AWS says the chip delivers up to 25 percent better compute performance than the prior generation, with 192 cores per processor and 33 percent lower inter-core latency. Uber and Snowflake are among the early adopters, joining more than 120,000 customers already running on Graviton. The launch underscores how the cloud giants are racing to design their own silicon and cut their dependence on Nvidia for the inference work that agents run around the clock.

Jensen Huang and Hyundai chair Chung Euisun used a meeting in Seoul to widen their partnership from research prototypes toward factory-ready robotics, spanning mobility, manufacturing, and autonomous driving. Hyundai will stand up an AI supercomputer built on 50,000 Nvidia Blackwell GPUs to train models for self-driving and smart factories, and the two companies will work with the Korean government on new AI technology centers. Huang called Hyundai one of the best robotics companies in the world. The deal is one of the largest national commitments yet to physical AI — the effort to move machine intelligence off the screen and into machines that move.

Moonshot AI, the maker of the Kimi chatbot, is in early talks to raise as much as $2 billion at a $30 billion valuation — a sevenfold jump from the roughly $4 billion the startup was worth in December. The round, its third in six months, comes as Chinese labs race to keep pace with each other and with Western rivals. Moonshot's annualized revenue passed $200 million in April, and its upgraded Kimi K2.6 model ranks among the most-used models on the OpenRouter distribution platform. The pace shows how fast capital is flowing into China's open-model contenders even as US export controls bite.

OpenAI and Oracle said Oracle Cloud Infrastructure customers will be able to apply their existing Oracle Universal Credits toward OpenAI's frontier models and the Codex coding agent, putting that access inside the purchasing workflow enterprises already use. Availability is expected in the coming weeks. It is the latest thread in the deep Stargate compute relationship between the two companies, and it gives OpenAI another enterprise distribution channel — a reminder that the IPO-bound lab is still busy widening the on-ramps that drive its revenue.