OpenAI Eyes September IPO With Goldman, Morgan Stanley
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- OpenAI has engaged Goldman Sachs and Morgan Stanley to prepare IPO paperwork that could be filed confidentially with regulators within days—potentially as soon as Friday—per the Wall Street Journal.
- The company has raised approximately $180 billion in funding, most recently at an $852 billion valuation, while secondary-market shares on Forge Markets trade at $735, up 46% in three months and 120% in the past year.
- A jury ruled Monday against Elon Musk in his $150 billion lawsuit challenging OpenAI's for-profit structure, finding he filed the challenge too late on a calendar technicality.
- Musk said on X he plans to appeal to the Ninth Circuit, claiming the court never ruled on the merits and alleging Sam Altman and Greg Brockman 'enriched themselves by stealing a charity.'
- Prediction market Myriad gives OpenAI 73% odds of beating rival Anthropic to public markets, with those odds flipping earlier Wednesday following the IPO report.
- Both OpenAI and Anthropic warned this month that unauthorized stock tokenization attempts are void, sending PreStock token prices sharply lower.
Why it matters: OpenAI's $852 billion private valuation and 120% surge in secondary shares underscore extraordinary investor demand, and the dismissal of Musk's lawsuit removes a major legal obstacle. But Musk's planned Ninth Circuit appeal remains a live threat, and prediction markets now price OpenAI at 73% to beat Anthropic in the race to public markets.
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