OpenAI Confidentially Files S-1 IPO Prospectus With the SEC
OpenAI filed a confidential draft S-1 IPO prospectus with the SEC on May 22, targeting a Q4 2026 public listing at an estimated valuation between $852 billion and $1 trillion. Goldman Sachs and Morgan Stanley are leading the offering. The filing comes despite reported operating losses, raising questions about the company's path to profitability ahead of a public debut.
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