OpenAI barrels toward IPO that may happen in September
Quick Answer
OpenAI is preparing for an IPO potentially in September 2026, following a legal victory over Elon Musk.
Quick Take
The company is collaborating with Goldman Sachs and Morgan Stanley for the offering, which is expected to be significant amidst rising competition from Musk's SpaceX.
Key Points
- OpenAI aims for a September IPO after winning a lawsuit against Elon Musk.
- The company is working with Goldman Sachs and Morgan Stanley for the IPO.
- SpaceX, a competitor, is also expected to file for its IPO soon.
- The IPO is anticipated to be a blockbuster event in the tech sector.
- Musk's failed lawsuit may shift the competition to financial markets.
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Posted:
A day after Elon Musk lost his lawsuit that threatened OpenAI’s structure, leadership, and finances, the AI giant is ready to move forward with its initial public offering, sources told the Wall Street Journal.
OpenAI chief executive Sam Altman reportedly hopes that his company will be ready to go public by September. The ChatGPT maker has been working with tech IPO powerhouse bankers Goldman Sachs and Morgan Stanley, and may file IPO paperwork confidentially with regulators within days or weeks, per the WSJ.
The news of OpenAI’s potential IPO, which by all accounts should be a blockbuster, comes as the world awaits the public disclosure of SpaceX’s IPO filings, which are expected to appear as soon as Wednesday, according to reports. Rocket-maker SpaceX is, of course, now one of OpenAI’s major competitors, after it consumed Elon Musk’s model maker, xAI.
Now that Musk failed to skewer OpenAI, the competitor he co-founded, through the heart with a lawsuit, it looks like the next Musk vs. Altman battle will take place in the world of finance. Which one will be the bigger IPO?
OpenAI did not immediately respond to a request for comment.
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