OpenAI eyes confidential IPO filing as early as Friday

Artificial intelligence company OpenAI is preparing to confidentially file a draft prospectus for an initial public offering (IPO) as early as Friday, CNBC reported on Wednesday.The AI company, valued at more than $850 billion by private investors, is reportedly working with Goldman Sachs and Morgan Stanley on the potential listing, according to a source familiar with the matter cited by CNBC.

The filing could take place in the coming days or weeks, the report said.
OpenAI had raised $110 billion in a mega funding round on February 26, according to details shared by Sam Altman. The fundraising, backed largely by strategic investors, valued the company at nearly $730 billion.
The potential IPO filing comes days after a federal jury in Oakland rejected a lawsuit brought by Elon Musk against Sam Altman, Greg Brockman and OpenAI, a decision Musk has said he intends to appeal.On May 18, An advisory jury found that Altman, OpenAI and its leadership were not liable on claims brought by Musk, a ruling later upheld by US District Judge Yvonne Gonzalez Rogers.

The lawsuit, filed by Musk in 2024, accused OpenAI of abandoning its original nonprofit mission and transforming itself into a profit-driven enterprise in violation of commitments made when the organisation was founded in 2015.

Musk, who co-founded OpenAI alongside Altman and others, left the company’s board in 2018.

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