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 move comes days after a crucial court victory for OpenAI against billionaire Elon Musk, which cleared a major hurdle for the listing.
OpenAI, the artificial intelligence (AI) company led by Sam Altman, is reportedly getting ready to confidentially submit draft initial public offering (IPO) documents in the US as early as Friday, according to a CNBC report, citing sources familiar with the matter. If the listing moves ahead, it could rank among the biggest stock market debuts ever.
According to CNBC, OpenAI is working with investment banks Goldman Sachs and Morgan Stanley to prepare the filing in the coming days or weeks. Reuters and The Wall Street Journal also reported that the company could file for its IPO soon, with Reuters saying OpenAI may target a public listing as early as September.
1 May 2026
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IPO Plans Gather Pace
OpenAI, the company behind ChatGPT, has emerged as one of the biggest names in artificial intelligence (AI) after the global success of its AI chatbot and related products. The company is currently valued at more than $850 billion by private investors, according to reports.
In a statement to CNBC, an OpenAI spokesperson said the company regularly evaluates different strategic options as part of normal governance, while adding that its main focus remains on execution.
The potential IPO comes at a time when investor interest in AI companies remains extremely high. OpenAI earlier said ChatGPT serves more than 900 million weekly active users and has crossed 50 million consumer subscribers worldwide.
The development also comes days after Elon Musk’s SpaceX filed its long-awaited IPO prospectus. Reports suggest SpaceX could raise between $75 billion and $80 billion, potentially valuing the company at nearly $1.75 trillion.
Legal Setback for Musk
The timing of OpenAI’s IPO preparations follows a recent legal setback for Elon Musk in his dispute with the company he helped co-found in 2015.
A federal jury in California ruled against Musk in a lawsuit accusing OpenAI of moving away from its original nonprofit mission. Musk had argued that OpenAI’s shift toward a for-profit structure benefited insiders and investors instead of serving humanity as originally intended.
Reuters, citing IPOX Vice President Kat Liu, reported that resolving the legal uncertainty may have removed a major obstacle for OpenAI’s IPO plans and could have helped the company speed up its listing timeline.
OpenAI CFO Sarah Friar had earlier told CNBC that it was “good hygiene” for a company of OpenAI’s size to operate like a public company.
