OpenAI is racing to go public

• OpenAI is racing toward its blockbuster IPO.
• The AI lab is targeting September for the listing, a person familiar with the matter said.
• Goldman Sachs and Morgan Stanley will steward the company through the process, the person said.

OpenAI could go public this fall.

The ChatGPT-maker is moving quickly toward an initial public offering and targeting September for the listing, a person familiar with the matter told Business Insider.

OpenAI is working with bankers at Goldman Sachs and Morgan Stanley to put together its filings, the person said.

The Wall Street Journal reported that OpenAI could file its confidential prospectus with regulators as early as Friday.

Employees and investors have been eagerly awaiting the IPO, given OpenAI's meteoric rise over the last three years. A $122 billion funding round in March pushed the company's post-money valuation to $852 billion.

The listing would bring in yet more cash and give longtime stakeholders a chance to liquidate their shares.

Investors also expect SpaceX's IPO this summer, and OpenAI rival Anthropic is also eyeing a public listing.

This is a developing story.