OpenAI Prepares for Blockbuster IPO in September

OpenAI is gearing up for a blockbuster initial public offering, with the AI giant aiming to go public as early as September, according to sources familiar with the matter. The planned IPO comes on the heels of a major development in the company's ongoing saga with Elon Musk, who had threatened OpenAI's structure, leadership, and finances with a lawsuit that was ultimately unsuccessful. OpenAI chief executive Sam Altman is reportedly optimistic about the company's prospects, with sources telling the Wall Street Journal that he hopes to take the company public by September.

To facilitate the process, OpenAI has been working with tech IPO powerhouses Goldman Sachs and Morgan Stanley. The company may file IPO paperwork confidentially with regulators within days or weeks. The news of OpenAI's potential IPO has significant implications for the world of finance, particularly in the tech sector.

The ChatGPT maker is expected to have a highly successful IPO, one that could rival the upcoming public disclosure of SpaceX's IPO filings. SpaceX, which is now one of OpenAI's major competitors, is expected to make its IPO filings public as early as Wednesday. The planned IPO also sets the stage for a new battle between Musk and Altman, this time in the world of finance.

Musk, who co-founded OpenAI but is no longer involved with the company, had threatened to disrupt its operations through his lawsuit. With that threat now neutralized, the focus shifts to which company will have the bigger IPO. OpenAI did not immediately respond to a request for comment on the report.