Goldman Sachs and Morgan Stanley are handling OpenAI's IPO documents; the filing could be submitted as early as Friday

Odaily Planet Daily News OpenAI has been working 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 confidentially file documents with regulators soon, potentially as early as this Friday. Some insiders say OpenAI's goal is to launch its IPO as early as September, though the plans remain subject to change and could be altered in the future.

Earlier this week, OpenAI cleared a major hurdle on its IPO path: the company won a legal dispute with co-founder Musk, who has now become a rival to CEO Altman. Musk stated he plans to appeal the ruling. OpenAI still needs to overcome a series of other challenges, chief among them concerns in the market about its ability to generate enough revenue to support its massive data center spending commitments. (WSJ)