OpenAI Closes in on IPO Near $1 Trillion Valuation

<p>The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.<br /><br />OpenAI is preparing to file for an initial public offering in the coming weeks and is targeting a public debut sometime in the fall, according to a person familiar with the plan.<br /><br />The ChatGPT creator is working with Goldman Sachs and Morgan Stanley to make a confidential IPO filing as soon as Friday, but the exact timing remains uncertain, the person said, asking not to be identified because the information isn&rsquo;t public. OpenAI said in a statement: &ldquo;We regularly evaluate a range of strategic options. Our focus remains on execution.&rdquo;<br /><br />OpenAI has been laying the groundwork to go public as soon as this year as part of a broader effort to raise more capital and pay for its costly push for more chips, data centers and talent, Bloomberg News has previously reported. Rivals Anthropic PBC and SpaceX are also preparing for listings. SpaceX&rsquo;s IPO paperwork may be made public as soon as Wednesday.<br /><br />On this episode, Carol and Tim speak with:</p> <ul> <li>Ed Ludlow, Bloomberg Tech Co-Host</li> <li>Kurt Wagner,&nbsp; Bloomberg News Senior Technology Reporter on Meta Begins 8,000 Global Job Cuts in AI Efficiency Push&nbsp;</li> <li>Patrick Clark, Bloomberg News Real Estate Reporter on Wall Street Takes Its Cut of $34 Trillion in US Homeowner Wealth</li> </ul><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>