OpenAI is preparing to file for an initial public offering in the coming weeks and is targeting a public debut sometime in the fall, working with Goldman Sachs and Morgan Stanley to make a confidential IPO filing as soon as Friday, according to Bloomberg sources. The filing comes days after a jury rejected Elon Musk's lawsuit against OpenAI and Sam Altman, removing an overhang to its IPO plans, with Reuters previously reporting the IPO could value the company at as much as $1T. The move follows OpenAI's $122B funding round at an $852B valuation completed in April, and comes amid heightened competition from Anthropic and Google, reportedly missed internal revenue and user growth targets, and a slew of lawsuits related to ChatGPT, with rivals Anthropic and SpaceX also preparing for listings.
