OpenAI may file confidentially for an IPO in the US as early as this week, multiple reports said, after its success in a legal challenge earlier this month removed a key obstacle.
The AI start-up has been working with bankers at firms including Goldman Sachs and Morgan Stanley to create a draft IPO prospectus to be filed confidentially with regulators in the near future, said a Wall Street Journal report, which was confirmed by other reports from outlets including Reuters and Bloomberg.
The prospectus could reportedly be filed as early as Friday, with the goal of pushing for an IPO as early as September, although plans remain fluid.
Market trajectory
OpenAI chief executive Sam Altman has been advocating an IPO, while chief financial officer Sarah Friar has told company leaders the firm may need more time, according to previous reports.
