tech
OpenAI to Confidentially File for IPO as Soon as Friday: Source
OpenAI is working with banks including Goldman Sachs and Morgan Stanley.
TL;DR
- OpenAI is preparing to confidentially file its IPO prospectus as soon as Friday.
- The company is working with banks including Goldman Sachs and Morgan Stanley.
- OpenAI is valued at over $850 billion by private investors.
- The company aims for an IPO as soon as the fourth quarter of this year.
- Elon Musk's SpaceX is also preparing for its IPO, with a confidential filing already made.
- Musk is in a legal dispute with OpenAI and its CEO Sam Altman, alleging they broke their nonprofit promise.
- OpenAI faces competition from Anthropic, which is also seeking significant funding and has reported substantial annualized revenue.