Goldman Sachs and Morgan Stanley are handling OpenAI's IPO documents, which may be filed as early as Friday

Odaily Planet Daily News OpenAI has been working with investment banks to prepare for the filing of an initial public offering (IPO) in the coming days or weeks. Investment banks including Goldman Sachs and Morgan Stanley are assisting OpenAI in drafting its IPO prospectus. The company plans to confidentially submit documents to regulators soon, potentially as early as this Friday. Some insiders indicated that OpenAI aims to launch its listing as early as September, although the plan still faces uncertainties and could change.

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