- OpenAI is preparing to confidentially file draft IPO papers in the US.
- The ChatGPT maker is reportedly working with Goldman Sachs and Morgan Stanley on the process.
- The company could file for its IPO soon, with OpenAI targeting a public listing as early as September.
- ChatGPT serves more than 900 million weekly active users and has crossed 50 million consumer subscribers worldwide.
- A federal jury in California ruled against Elon Musk in a lawsuit accusing OpenAI of moving away from its original nonprofit mission.
- Resolving the legal uncertainty may have removed a major obstacle for OpenAI's IPO plans.
OpenAI is preparing to confidentially file for an IPO, potentially targeting a public listing by September. The company is collaborating with Goldman Sachs and Morgan Stanley on the filing process. The swift move comes as OpenAI has reported 900 million weekly active users of ChatGPT and over 50 million consumer subscribers globally.26
A federal jury in California recently ruled against Elon Musk, who alleged that OpenAI deviated from its original nonprofit intentions. This legal determination is seen as pivotal, removing a significant obstacle to OpenAI's IPO aspirations. “Resolving the legal uncertainty may have helped the company speed up its listing timeline,” experts suggest.14
As AI technology continues to surge, OpenAI’s potential public offering signals increased investor interest in the booming sector. The emphasis on transparency following Musk’s lawsuit may provide reassurance to potential investors, paving the way for a robust IPO announcement in the coming months.
With the stock market showing increased appetite for tech IPOs, OpenAI’s entry could be timed perfectly to capitalize on favorable conditions for new public listings, especially given the ongoing advancements in artificial intelligence applications. As the $100 billion private valuation has been noted, public investors await details on how the company plans to navigate scaling operations post-IPO.
“OpenAI is reportedly working with Goldman Sachs and Morgan Stanley on its IPO filing process, aiming for a public listing imminently. The company had previously announced that ChatGPT serves over 900 million weekly active users and more than 50 million subscribers globally.”
Background on OpenAI's status and user base
OpenAI earlier said ChatGPT serves more than 900 million weekly active users and has crossed 50 million consumer subscribers worldwide. The ChatGPT maker is reportedly working with Goldman Sachs and Morgan Stanley on the process.
