Key insights
- OpenAI is reportedly in talks with major banks like JPMorgan and Citigroup for its upcoming IPO, potentially alongside Goldman Sachs and Morgan Stanley. This move, expected within weeks, signals significant activity in the AI sector, with rival Anthropic also planning a large offering. The potential IPO could be a landmark event, influencing investor sentiment and capital flows within the technology and AI industries.
Investing.com - OpenAI has held discussions with Citigroup Inc. (NYSE:C) and JPMorgan Chase & Co. (NYSE:JPM) about working on its upcoming initial public offering, according to reporting from Bloomberg, citing people familiar with the matter.
The two banks could join Goldman Sachs Group Inc. (NYSE:GS) and Morgan Stanley (NYSE:MS) on preparations for the listing, the people said. The ChatGPT maker is expected to file confidentially for an IPO within weeks, with the offering potentially coming later this year.
Discussions with Citigroup and JPMorgan may not result in them joining the lineup for the IPO, the people said. Other investment banks will likely end up working on the listing as well, they added.
The IPO would follow the listing of Elon Musk’s SpaceX, expected to be the largest of all time at $75 billion. OpenAI’s offering would likely precede rival artificial intelligence company Anthropic PBC, which is also expected to launch a jumbo-sized offering later this year or early next.
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