OpenAI is reportedly gearing up for an initial public offering that could launch as early as September, according to company insiders who spoke with The New York Times. The timing comes shortly after a federal jury rejected Elon Musk's lawsuit against the company, removing a major obstacle to going public. OpenAI has reportedly been working with Goldman Sachs and Morgan Stanley to prepare for the filing.

The AI giant posted a $5 billion loss in 2024 despite generating $3.7 billion in revenue, and CEO Sam Altman has pledged to invest $600 billion by 2030 in computing infrastructure. Analysts project the company could lose $44 billion by 2028, with profitability not expected until 2029 or 2030. These aggressive spending plans raise questions about whether investors will embrace OpenAI's long path to profitability.

At a $730 billion valuation, OpenAI's worth stems partly from investments by NVIDIA and Microsoft, creating circular financial relationships that have drawn scrutiny. The company's public debut would join a crowded AI market where rivals like SpaceX's xAI and Anthropic are also pursuing public offerings.

The IPO represents a critical test for whether public markets will fund AI's expensive infrastructure race at the scale OpenAI envisions.