tech
OpenAI is racing to go public
OpenAI targets September IPO with Goldman Sachs and Morgan Stanley as advisors, a person familiar with the matter told Business Insider.
TL;DR
- OpenAI is preparing for an initial public offering (IPO) this fall, with a target listing in September.
- The company is working with Goldman Sachs and Morgan Stanley on its IPO filings.
- A recent funding round valued OpenAI at $852 billion.
- The IPO aims to provide liquidity for stakeholders and offer public insight into OpenAI's operations.
- OpenAI is projected to incur multi-billion dollar losses through 2029.
- The company recently won a legal battle against Elon Musk regarding its for-profit transition.