OpenAI is set to file for an initial public offering in the coming weeks, targeting a public debut in the fall, according to a source familiar with the plan.
The ChatGPT creator is working with Goldman Sachs and Morgan Stanley to make a confidential IPO filing, but the exact timing remains uncertain.
OpenAI has been laying the groundwork to go public as part of a broader effort to raise more capital and fund its costly push for more chips, data centers, and talent.
The company faces challenges in the run-up to a possible public offering, including heightened competition from rivals like Anthropic and Google, missed revenue and user growth targets, and several key executive departures.
OpenAI also faces a slew of lawsuits related to its popular chatbot, alleging a range of harms including wrongful death.
