The day after Elon Musk lost his lawsuit against OpenAI, which could have impacted the AI company’s structure and finances, OpenAI is advancing with plans for its initial public offering, according to the Wall Street Journal. CEO Sam Altman aims for the company to go public by September, having enlisted Goldman Sachs and Morgan Stanley for the process. OpenAI may confidentially file IPO paperwork soon.
The potential IPO news comes as SpaceX prepares to unveil its IPO filings. This follows SpaceX’s acquisition of xAI, making it a major competitor to OpenAI. With Musk’s failed lawsuit against co-founded OpenAI, the next contest between Musk and Altman is anticipated in the financial arena, sparking questions about which IPO will dominate. OpenAI has yet to comment on the situation.