OpenAI gearing up for a massive IPO

OpenAI, led by Sam Altman and known for revolutionizing artificial intelligence through ChatGPT, is reportedly preparing to file draft papers for its Initial Public Offering (IPO) on Friday. Private investors estimate the company’s current valuation at around 850 billion dollars, making it one of the largest IPOs in global market history if it proceeds as planned.

The company is working with Goldman Sachs and Morgan Stanley for the listing and is expected to file confidentially. OpenAI aims to list its shares on the Nasdaq by September. The company currently has over 900 million weekly active users for ChatGPT, with paid subscribers exceeding 50 million. Meanwhile, competition is intensifying as Elon Musk’s SpaceX has also filed for its IPO, targeting massive fundraising, marking a global race between tech giants.