OpenAI Eyes September IPO Despite $14 Billion Projected Loss

With 900 million weekly users, $25 billion in annualized revenue and a $14 billion projected loss, OpenAI is preparing to ask the public to buy in. The Wall Street Journal reported the company is working with Goldman Sachs and Morgan Stanley on a draft IPO prospectus. The company plans to file it confidentially with regulators as early as Friday (May 22) with a target public debut as early as September, according to people familiar with the matter.