OpenAI is also preparing an IPO, according to the Wall Street Journal, and could file confidential paperwork with the SEC within days. Banks like Goldman Sachs and Morgan Stanley are helping put together the IPO prospectus. The target is a listing starting in September. OpenAI was valued at $852 billion in a recent funding round.
One major hurdle was cleared this week—at least for now. OpenAI won its lawsuit against co-founder Elon Musk, who accused the company of turning a nonprofit into a for-profit business. Musk plans to appeal.
Challenges remain. OpenAI recently missed internal revenue and user targets, and rivals like Anthropic and SpaceX are planning IPOs of their own.
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