OpenAI aims for September IPO after Elon Musk's lawsuit against the company fails

OpenAI chief executive Sam Altman reportedly hopes the company will be ready to go public by September, with the ChatGPT maker working with Goldman Sachs and Morgan Stanley and potentially filing IPO paperwork confidentially with regulators within days or weeks.

The IPO announcement comes a day after Elon Musk lost a lawsuit that had threatened OpenAI's structure, leadership, and finances.

SpaceX, now one of OpenAI's major competitors after acquiring Elon Musk's model maker xAI, is also expected to disclose its own IPO filings as soon as Wednesday.