Knicks-onomics, OpenAI’s S-1, & Apple’s Siri AI 6/9/26

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Bring in show music, please.

**Cameron Costa** (0:59)
This is Squawk Pod and I'm CNBC producer Cameron Costa. On today's episode, OpenAI joins Anthropic and SpaceX in the race to IPO. But some companies like Perplexity are committing to further out.

**Andrew Ross Sorkin** (1:14)
I'm hearing from a whole number of bankers about a number of companies that were thinking about going public in 2027 that are now thinking about filing off financially or otherwise before the end of the year.

**Cameron Costa** (1:26)
Senate Majority Leader John Thune on the push to pass the reconciliation bill that funds immigration enforcement. Now all that's left is the House.

**John Thune** (1:36)
We had to do it with Republican-only votes. It got a little complicated along the way, but we were successful in defeating all the poison pill amendments that would have taken it down.

**Cameron Costa** (1:47)
The Knicks in four dream might be over, but New York City is still riding the fandom wave. Director of the Sports Business Program at WashU in St. Louis, Patrick Rishe.

**Patrick Rishe** (1:59)
Quite a time for the sports economy in New York.

**Cameron Costa** (2:02)
Those conversations plus Apple's Siri AI overhaul and President Trump's confidence in a US-Iran deal. It is Tuesday, June 9th, and Squawk Pod begins right now.

**Andrew Ross Sorkin** (2:16)
Stand Becky by in 3, 2, 1, cue, please.

**Becky Quick** (2:21)
Good morning, everyone. Welcome to Squawk Box right here on CNBC. We are live from the NASDAQ Market Site in Times Square.
I'm Becky Quick, along with Joe Kernen and Andrew Ross Sorkin. And, Andrew, that confidential filing, don't know why they call it confidential when they then turn around and tell everybody what they've done.

**Andrew Ross Sorkin** (2:39)
Well, let's talk about that filing, because OpenAI did file confidentially with government regulators for an IPO. The actual filing itself is confidential insofar as we don't know what's inside of it. The Chat GPT maker did say we recently submitted a confidential S1 we expected 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 company has been gearing up for public listing as soon as the fourth quarter, source telling CNBC that OpenAI planned to execute a tender offer that would allow employees to sell shares at the firm's latest valuation of $852 billion. That news coming a week after Anthropic confidentially filed for its IPO, and now of course just days before SpaceX goes public. So a bit, I think, of putting down a marker, Becky, and just saying, look, we may or may not do this. This gives them at least a latitude and opportunity to try to do it. But as they said, and I think we've reported, there's a lot of sort of house cleanup and other things that I think they want to do before they get to that moment.

**Becky Quick** (3:57)
Probably want to have the opportunity to go out if it looks like the market window is closing at any point if they want to rush on that. I would guess you want to be around with SpaceX and all of the other talk that we've got of these big IPOs that are coming. Probably don't want to miss out on that opportunity if they need it.

**Andrew Ross Sorkin** (4:13)
Exactly. I mean, that's the, I think there's a big question. By the way, I'm hearing from a whole number of bankers about a number of companies that were thinking about going public in 2027 that are now thinking about filing confidentially or otherwise before the end of the year. I think there's a view that somehow the window is open right now and we'll see what the reaction ultimately of the SpaceX IPO is, but that that may either make the window even more wide open because it would be such a success or potentially close that window if it isn't.