CNBC Daily Open: Hat trick of tech IPOs complete with OpenAI filing

Hello, this is Leonie Kidd writing to you from London. Welcome to today's edition of the Daily Open newsletter.

The mega IPO hat trick is complete.

OpenAI has decided to "get ahead of the leaks" and reveal some of the details of its confidential filing to go public.

It joins archrival Anthropic in turning to the public markets, and comes on the same week that SpaceX prepares to start trading on Friday.

The move marks a historic moment in the AI story, as the biggest players look to capitalise on the animal spirits that keep propelling the markets to record highs.

OpenAI has confidentially filed for IPO, joining Anthropic and SpaceX in turning to the public markets in what looks set to be the three largest listings on record.

In a statement, OpenAI said: "We recently submitted a confidential S-1. We expect it to leak so we're just announcing it. We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company. But it's a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best."

The artificial intelligence company, which is valued at more than $850 billion, has been gearing up to go public as soon as the fourth quarter of this year.

Elsewhere, Perplexity CEO Aravind Srinivas told CNBC the group plans to go public in 2028 regardless of how the market receives the mega listings of OpenAI, Anthropic and SpaceX.

Meanwhile, the broader technology sector has staged a rebound, with stocks in Asia tracking Wall Street's gains as investors returned to AI-linked names.

In the U.S., chip stocks powered gains on Monday, helping the S&P 500 gain 0.3%, while the tech-heavy Nasdaq Composite advanced 0.86%, clawing back some of last week's losses amid a broader rout in technology shares.

Surging AI-related exports have helped China's trade growth come in better than expected in May. Overall exports rose 19.4% from a year earlier, ahead of Reuters forecasts of 15%.

Chinese exporters seem to have so far weathered the fallout from the Middle East conflict, with overseas buyers rushing to lock in supplies before energy costs climb further.

U.S. President Donald Trump, speaking early Tuesday morning, said: "We have ongoing negotiations in Iran and with Iran, that hasn't stopped. And we could have at least an idea by one or two days from now, but I think it's going well."

Iran's military said it was halting strikes against Israel, but hours later, Israeli Prime Minister Benjamin Netanyahu said the war against Tehran and Lebanon-based Hezbollah "has not yet ended."

In Europe today, Berlin plays host to the world's largest gathering of private markets voices, SuperReturn International. CNBC will speak to Thoma Bravo, Apollo, Ares and many others over the course of the next two days. You can watch all those interviews here on CNBC Pro.

— Leonie Kidd