AI firm OpenAI is expected to file for its IPO in the coming days or weeks, according to The Wall Street Journal, which cited people familiar with the process. The Microsoft-backed (MSFT) company behind ChatGPT has reportedly worked with Goldman Sachs (GS) and Morgan Stanley (MS) on a draft filing and could submit paperwork to regulators as soon as Friday. The expected filing would be a major step toward taking one of the world’s most influential AI companies public.
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The timing is also notable because it comes just days after a jury sided with OpenAI CEO Sam Altman and Microsoft in Elon Musk’s lawsuit, which accused OpenAI of abandoning its original charitable mission. Musk, who is also CEO of Tesla (TSLA), is separately preparing an IPO for SpaceX, which recently merged with xAI, the company behind Grok. As a result, investors could soon have two major Musk- and Altman-linked AI stories moving toward the public markets at the same time.
What Is the Price Target for Microsoft?
Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 33 Buys and two Holds assigned in the past three months, as indicated by the graphic below. Furthermore, the average MSFT price target of $559.98 per share implies 34.2% upside potential.
