OpenAI may file preliminary IPO paperwork as early as this week, a move that would kick off final preparations toward an autumn, likely September, public listing. The Financial Times reports the draft prospectus could be submitted as soon as Friday.
Advisers and planned valuation
Morgan Stanley and Goldman Sachs bankers, along with the law firm Cooley, have been assisting in the months-long preparation. The company plans to carry out the IPO at a valuation of at least $1 trillion.
What could affect the timing?
The timing of the listing could be significantly influenced by current capital market conditions. Another factor is Elon Musk’s SpaceX, which is expected to go public next month and could become one of the largest IPOs ever; such big events may alter OpenAI’s schedule.
Why OpenAI is going public
Over the past year OpenAI has systematically removed obstacles to a public listing: it converted to a profit-seeking structure last year, cut costly side projects in recent months, and this week won a long-running lawsuit brought by Elon Musk.
To date the privately operated startup has raised nearly $200 billion in private funding. The company now seeks additional capital from the public markets to maintain competitiveness with Anthropic and other AI developers.
Brief summary
Filing a draft prospectus would officially start the countdown toward a likely September listing, though market conditions and other major offerings could change the timetable.
This article does not constitute investment advice or a recommendation.
