OpenAI files its S-1 with the SEC: the process to go public is now underway

My take: On June 8, OpenAI confirmed it had confidentially filed its S-1 form with the US Securities and Exchange Commission, the formal step that kicks off the IPO process. Goldman Sachs, JPMorgan, and Morgan Stanley are leading the offering; the target valuation exceeds $850 billion, which would make this the largest public offering in history, surpassing Saudi Aramco. The tentative date is September 2026, though the company has not set a firm timeline. This is separate from the financial figures leaked this week: the company has now made the formal decision to list.