OpenAI preparing confidential IPO filing as soon as Friday, sources say
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Summary
OpenAI is preparing to confidentially file for an IPO as soon as Friday, following in the footsteps of Elon Musk's SpaceX, which is set to publicly disclose its IPO prospectus as early as Wednesday. Goldman Sachs is leading the SpaceX prospectus, with Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase also involved. SpaceX was valued at $1.25 trillion in February and confidentially filed with the SEC last month. OpenAI is working with banks including Goldman Sachs and Morgan Stanley for its own IPO preparations.
Key quotes
· 3 pulledOpenAI's preparations land as Elon Musk's competitor SpaceX, which merged with xAI earlier this year, is set to publicly disclose its IPO prospectus as soon as Wednesday.
Goldman Sachs will have the lead left position on the SpaceX prospectus, followed by Morgan Stanley, and then Bank of America, Citigroup and JPMorgan Chase, sources told CNBC.
SpaceX's offering is expected to bring in a record-breaking sum after it was most recently valued at $1.25 trillion in February.
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