OpenAI Is Laying Groundwork For A $1 Trillion September IPO: Reports

• OpenAI is working with bankers at Goldman Sachs and Morgan Stanley and lawyers at Cooley.
• Sam Altman has been pushing for the $852 billion start-up to go public ahead of its main rival Anthropic.
• SpaceX and Anthropic also plan to list this year.

OpenAI is planning to go public as soon as September, according to media reports, marking a highly anticipated milestone as the artificial intelligence space prepares itself for several high-profile IPOs, including SpaceX and Anthropic, due this year.

The San Francisco-based creator of ChatGPT is actively preparing for an initial public offering, and according to people familiar with the matter cited by the Wall Street Journal and FT, the company might file a formal filing as early as Friday this week.

A primary catalyst for the timeline is the company’s transition from its original non-profit governance structure into a commercial, for-profit entity—a shift aimed at making OpenAI more attractive to traditional Wall Street investors. Early discussions indicate that the company could look to raise at least $60 billion in the public debut, though that figure could climb significantly higher given recent private valuation markers.

The company cleared a major roadblock to its IPO earlier this week by winning a legal fight against Elon Musk. Musk, whose rocket-maker SpaceX is expected to unveil IPO paperwork Wednesday ahead of a potential June offering, has said he plans to appeal the verdict. 

The road to the public markets comes amid mounting regulatory and legal scrutiny. Republican lawmakers have recently intensified oversight into CEO Sam Altman’s outside business dealings to ensure transparency ahead of the IPO, according to the Wall Street Journal.

 Additionally, OpenAI has been working to resolve various corporate obligations, recently redefining the parameters of its long-standing, multi-billion-dollar partnership with Microsoft to streamline its independence prior to listing.

Elon Musk and OpenAI’s Two-Hour Lawsuit 

A federal jury sided unanimously with OpenAI and Altman earlier on Monday this week after deliberating for less than two hours. The verdict found that Musk’s claims — which accused Altman and OpenAI President Greg Brockman of improperly converting the organization from a nonprofit into a for-profit entity — were filed too late under the statute of limitations, according to a report by The Wall Street Journal. U.S. District Judge Yvonne Gonzalez Rogers accepted the jury’s advisory verdict Monday and dismissed the case.

Musk co-founded OpenAI in 2015 with the mission of developing artificial intelligence to benefit all of humanity. He left the organization in 2018. His lawsuit alleged that Altman and Brockman had betrayed that original charitable purpose for personal enrichment.

OpenAI Retail View 

Retail sentiment on Stocktwits was ‘extremely bullish’ with ‘high’ message volumes. 

One user expects OpenAI to be the next Nvidia.

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