OpenAI to confidentially file for IPO as soon as Friday: Source

OpenAI is preparing to confidentially file a draft of its IPO prospectus as soon as Friday, as the company gears up for what could be one of the largest public markets debuts in history, CNBC confirmed on Wednesday.

The artificial intelligence company, which is valued at more than $850 billion by private investors, is working with banks including Goldman Sachs and Morgan Stanley to prepare to file in the coming days or weeks, according to a source familiar with the matter who asked not to be named because the details are confidential.

“As part of normal governance, we regularly evaluate a range of strategic options,” An OpenAI representative said in a statement. “Our focus remains on  execution.”

OpenAI has been preparing to IPO as soon as the fourth quarter of this year, as CNBC previously reported. OpenAI CFO Sarah Friar told CNBC last month that it is “good hygiene” for a company of OpenAI’s size to “look and feel and act” like a public company, but she wouldn’t comment on a specific timeline.

Goldman Sachs and Morgan Stanley did not comment. The Wall Street Journal was first to report the confidential filing.