OpenAI filed for an IPO earlier this week, aiming to go public as early as September.

BlockBeats News, May 21st, OpenAI is planning to submit a confidential IPO application to regulators in the near future, possibly as early as this Friday. Sources familiar with the matter revealed that investment banks including Goldman Sachs and Morgan Stanley are assisting OpenAI in drafting the IPO prospectus and are planning to submit the documents to regulators soon in secret. Some sources indicated that OpenAI aims to go public as early as September, but the plans are still subject to change and uncertainties.

Earlier this week, OpenAI cleared a significant obstacle on the IPO path—OpenAI CEO Sam Altman emerged victorious in a legal dispute against rival Elon Musk. Musk stated that he plans to appeal the ruling. OpenAI still faces a series of other challenges, with the primary one being concerns in the market about its ability to generate sufficient revenue to support its commitment to hefty data center expenses.