The AI firm targets a September debut after clearing a legal hurdle, despite internal revenue and user growth shortfalls.
OpenAI has submitted a confidential initial public offering filing, aiming for a market debut as early as September. The company, valued at $852 billion, is working with Goldman Sachs and Morgan Stanley on the prospectus, though internal disagreements persist over readiness and timing.
The filing follows a court ruling dismissing a lawsuit by co-founder Elon Musk, removing a key obstacle. However, OpenAI missed internal revenue and user targets, with its CFO warning of slow growth potentially impacting data center commitments. The firm fell short of a goal to reach one billion weekly active ChatGPT users by year-end.
SpaceX, another Musk-led venture, is also preparing for a potential June IPO, with documents expected this week.