OpenAI is preparing to confidentially file for an initial public offering as soon as Friday, with Goldman Sachs and Morgan Stanley advising on the draft prospectus, The Wall Street Journal reports, citing people familiar with the matter. The ChatGPT maker, last valued at $852 billion, aims to be ready to go public as early as September, though plans remain fluid. The filing follows OpenAI's courtroom victory over co-founder Elon Musk earlier this week, removing a key obstacle to the listing. CFO Sarah Friar has cautioned internally that the company may need more time, while OpenAI also faces intensifying competition from Anthropic and Google and has recently missed internal revenue and user targets. The IPO would cap what could become the largest year ever for public offerings, with SpaceX and Anthropic also exploring blockbuster debuts.