Artificial intelligence leader OpenAI is preparing to file for its initial public offering within days, according to a report. The company, valued at $852 billion, aims to launch the IPO as early as September after recently winning a lawsuit against founder Elon Musk. It is expected to compete with Musk’s SpaceX on the public market this year.
OpenAI is reportedly preparing to file for its landmark IPO in the coming days or weeks. The AI startup has been working with bankers at firms including Goldman Sachs and Morgan Stanley.
Sources stated that OpenAI’s goal is to be ready to go public as early as September. The plans remain fluid and could still change, those sources also advised.
OpenAI cleared a major roadblock to its IPO earlier this week, winning in its lawsuit battle with founder Elon Musk. It is now expected to compete with Musk’s SpaceX on the stock market this year.
Sam Altman has been eager to do an IPO, while the company’s CFO, Sarah Friar, has told company leaders it may need more time. OpenAI was valued at $852 billion in a recent funding round.
OpenAI recently missed multiple internal revenue and user targets after facing competition from rivals Google and Anthropic. The company recently announced the OpenAI Deployment Company, designed to help organizations build and deploy AI systems.
The new company is backed by more than $4 billion in initial capital, adding to the hundreds of billions in OpenAI’s current valuation. It is expected to be a significant revenue driver, potentially helping make the IPO one of the biggest ever.
