OpenAI is preparing to file for its landmark IPO in the coming days or weeks, according to The Wall Street Journal. The report states that the AI startup has been working with bankers at at firms including Goldman Sachs and Morgan Stanley, and could launch the IPO as soon as this Friday.
Sources told the WSJ 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. Now, its expected to compete with Elon Musk’s SpaceX on the stock market this year, with both IPOs pending launch in 2026.
Altman has been eager to do an IPO, while the company’s CFO, Sarah Friar, has told company leaders it may need more time, The Wall Street Journal has reported. 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.
Also Read: Trump Stocks: Should You Buy NFLX, DIS, JPM Like He Did?
Furthermore, OpenAI recently announced the OpenAI Deployment Company, designed to help organizations build and deploy AI systems they can rely on every day across their most important work. The new company is backed by more than $4 billion in initial capital, adding to the hundreds of billions in OpenAI’s current valuation. The new firm is expected to be a significant revenue driver, one that could help make the IPO one of the biggest ever.