“That escalated quickly!” Two days after prevailing against Elon Musk in court, OpenAI prepares to file now for an IPO in coming weeks.

As reported by The New York Times (OpenAI Prepares to File to Go Public in Coming Weeks, written by Mike Isaac and Cade Metz and available here), OpenAI, is preparing to file confidentially (apparently, not that confidentially) for an initial public offering in the coming weeks, two people with knowledge of the matter said, laying the groundwork for one of the largest artificial intelligence company offerings that would heighten the stakes of the technology race.

OpenAI is working with Goldman Sachs and Morgan Stanley to prepare the paperwork, said the people, who were not authorized to speak publicly about private discussions. OpenAI is closely watching the stock market, they added, and the timing of any filing remains in flux. If a filing comes soon, an IPO could take place as soon as September.

“As part of normal governance, we regularly evaluate a range of strategic options,” a spokesman for OpenAI said in a statement. “Our focus remains on execution.”

OpenAI, which is based in San Francisco, is valued at $730 billion in the private market after its latest funding round earlier this year.

OpenAI is one of the most highly anticipated potential public offering candidates this year, in what is set to be a lucrative string of tech company mega offerings. SpaceX, Elon Musk’s rocket and satellite company that has valued itself at more than $1 trillion, is on the runway to reach the stock market as early as next month. And Anthropic, one of OpenAI’s fiercest AI rivals, has also taken steps to go public.

Not surprisingly, there has never been a $1 trillion IPO. Will one of these companies hit that mark? We’ll see. Perhaps this will be the opportunity for some “average Joes and Janes” to finally make some money on the AI hype? We’ll see about that too. 😉

So, what do you think? Would you buy OpenAI stock once it goes public? Please share any comments you might have or if you’d like to know more about a particular topic.

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