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Goldman Sachs and Morgan Stanley are processing OpenAI’s IPO documents, which may be submitted as early as Friday, or on Friday.

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AIMPACT News, May 21 (UTC+8): OpenAI has been working with investment banks to prepare for filing its first initial public offering (IPO) application in the coming days or weeks. Investment banks, including Goldman Sachs and Morgan Stanley, are assisting OpenAI in drafting the IPO prospectus. The company plans to confidentially submit the documents to regulators soon, possibly as early as this Friday. Some insiders say OpenAI’s goal is to start the listing as early as September, but the plans still have uncertainty and could change further in the future. Earlier this week, OpenAI cleared a major obstacle on its IPO path: the company won a legal dispute with co-founder Elon Musk, who has now become CEO Altman’s rival. Musk said he plans to appeal the ruling. OpenAI still needs to overcome a series of other challenges, chief among them concerns about whether it can generate enough revenue to support its massive data center spending commitments. (WSJ) (Source: ODAILY)
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