Elon Musk’s legal defeat against OpenAI has cleared the path for the AI company to pursue an initial public offering, the Wall Street Journal reports. OpenAI CEO Sam Altman aims for the company to go public by September, collaborating with Goldman Sachs and Morgan Stanley. Confidential IPO documents might be filed soon.
OpenAI’s anticipated IPO comes amidst expectations of SpaceX’s public filing, possibly as early as Wednesday. Since acquiring xAI, a key rival, SpaceX is now a primary competitor to OpenAI.
With Musk’s lawsuit against OpenAI unsuccessful, the next confrontation between Musk and Altman moves to the financial arena, raising the question of which will be the larger IPO. OpenAI has not yet commented.