OpenAI Files Confidential S-1; ~$1T IPO Eyed for Q4
OpenAI confidentially filed its S-1 around May 22, with Goldman Sachs and Morgan Stanley leading a Q4 IPO targeting up to a $1 trillion cap.
openai ipo
Inside OpenAI’s Record $122B Fundraise and the Road to an IPO
OpenAI closed a record $122 billion funding round in March 2026 at an $852B valuation. Here’s what the deal structure, PBC conversion, and Microsoft renegotiation mean for capital markets.