The issue of the century is on the way: OpenAI is preparing to submit a confidential prospectus already this week

According to the Wall Street Journal, bankers from leading companies, including Goldman Sachs and Morgan Stanley, are helping the artificial intelligence giant draft the IPO prospectus, which it plans to submit confidentially to regulators soon, possibly as early as this Friday, some of the sources said. According to them, the goal is for OpenAI, led by Sam Altman, to be ready to go public this September.

The company managed to remove a significant obstacle on the way to an IPO earlier this week, when it won the legal battle against its co-founder who became Altman’s bitter rival – Elon Musk. Musk, whose rocket company SpaceX is expected to file a prospectus in the coming days ahead of a possible IPO in June, announced that he plans to appeal.

OpenAI will have to overcome a series of additional challenges, chief among them concerns about whether it will be able to generate enough revenue to support its huge data center spending commitments.

OpenAI’s lead in the AI ​​race has recently been threatened by Anthropic (developer of the chatbot Claude), which has grown in recent months at a faster rate than its competitor, thanks to the rapid adoption of its software tools.

As a result, OpenAI is now in the midst of a major strategic shift in an attempt to close the gap. According to a report in the Wall Street Journal, while Altman was determined to move forward with the IPO, the company’s chief financial officer, Sarah Friar, indicated to company executives that they might need more time.

In its latest fundraising round, OpenAI was valued at $852 billion, after recently missing several revenue and internal user targets due to fierce competition from Google and Anthropic.