OpenAI Plans September IPO Amidst Significant Losses

OpenAI is reportedly gearing up for a public offering, aiming for a September IPO despite projecting a substantial $14 billion loss. The artificial intelligence leader, boasting 900 million weekly users and $25 billion in annualized revenue, is collaborating with investment banks Goldman Sachs and Morgan Stanley. They are working on a draft prospectus, with plans to file it confidentially with regulatory bodies. This move signals OpenAI's ambition to tap public markets for further growth, even as it navigates significant financial projections.