OpenAI targets September IPO after Musk lawsuit defeat

OpenAI is accelerating toward a potential initial public offering as early as September, according to sources cited by the Wall Street Journal. This move comes just days after a judge dismissed Elon Musk's lawsuit that sought to block OpenAI's transition from a nonprofit to a for-profit entity, a ruling that removes a major legal hurdle for the company. CEO Sam Altman has been working closely with Goldman Sachs and Morgan Stanley—both top-tier tech IPO bankers—and may file confidential IPO paperwork with regulators within days or weeks. The ChatGPT maker has not yet commented publicly on the timeline, but the development signals confidence in its growth trajectory and market appetite.

OpenAI's IPO is expected to be a blockbuster, capitalizing on the explosive demand for AI-powered tools and enterprise solutions. The timing aligns with SpaceX's own anticipated IPO filing, expected as early as Wednesday. SpaceX, which now owns Musk's xAI, becomes a direct competitor in the AI finance arena. The dual IPOs set up a high-stakes battle between Musk and Altman, two of tech's most influential figures. For investors, OpenAI's offering represents a rare chance to bet on the leading generative AI platform, while SpaceX's offering taps into space and defense. Which IPO will command a higher valuation and investor enthusiasm remains to be seen, but both are poised to reshape the tech investment landscape.