Goldman Sachs and Morgan Stanley are handling OpenAI's IPO documents, with the filing potentially submitted as early as Friday

Odaily Planet Daily News OpenAI has been collaborating with investment banks to prepare for the submission of an initial public offering (IPO) application in the coming days or weeks. Investment banks including Goldman Sachs and Morgan Stanley are assisting OpenAI in drafting the IPO prospectus. The company plans to file documents confidentially with regulators soon, possibly as early as this Friday. According to some informed sources, OpenAI aims to go public as early as September, though plans remain subject to change and could shift in the future.

Earlier this week, OpenAI cleared a major hurdle on the path to its IPO: the company won its legal dispute with co-founder Elon Musk, who has become a rival to current CEO Sam Altman. Musk stated that he plans to appeal the ruling. OpenAI still needs to overcome a series of other challenges, most notably market concerns about whether it can generate enough revenue to support its massive data center spending commitments. (WSJ)