(Reuters) - OpenAI is preparing to confidentially file for a U.S. initial public offering in the coming weeks, a source familiar with the matter said on Wednesday, adding to a wave of blockbuster listings anticipated in the year ahead.
The plan by the ChatGPT maker, which was last valued at $852 billion, comes two days after it fended off an existential court challenge from Elon Musk and threatens to upstage SpaceX's IPO filing, expected later in the day.
"Resolving that legal overhang removed a major obstacle to an IPO and likely gave OpenAI the confidence to accelerate its timeline," IPOX Vice President Kat Liu said.
OpenAI is aiming to go public as early as September and is working with Goldman Sachs and Morgan Stanley on a draft IPO prospectus that it plans to file with the regulators soon, according to two sources.
Liu said timing its filing close to SpaceX's IPO takes some of the scrutiny off of OpenAI and allows the company to tell its own story. "Simultaneous filings also force portfolio managers to evaluate both companies side by side."
OpenAI did not immediately respond to a Reuters request for comment. The Wall Street Journal first reported on the AI company's plans earlier in the day.