IBL News | New York
OpenAI is preparing to file an IPO (Initial Public Offering) in the coming weeks, The New York Times reported.
The IPO could take place as soon as September.
The maker of the ChatGPT chatbot is working with Goldman Sachs and Morgan Stanley to prepare the paperwork.
San Francisco-based OpenAI has been valued at $730 billion in the private market after a funding round this year. [Its CEO is in the picture above.
Its public offering can set a lucrative string of tech company offerings in a major year of IPOs for Silicon Valley.
Rival Anthropic, which is raising money at a $900 billion valuation, has also taken steps to go public.
And Elon Musk’s SpaceX, which has valued itself at more than $1 trillion, is on track to go public next month.
“An IPO boom would probably unleash a flood of generational wealth, creating the world’s first trillionaires and cementing the riches of a set of Silicon Valley tech executives who are already billionaires. It would also bring a bonanza to A.I. company employees, as well as to Wall Street banks and others,” wrote The New York Times.