OpenAI prepares confidential IPO filing

The intrigue: Both companies are working with many of the same banks, including Goldman Sachs, Morgan Stanley and JPMorgan Chase.

Zoom in: It has been been an open secret that both OpenAI and Anthropic want to go public this year, likely between Labor Day and Thanksgiving.

• Confidential IPO filings are submitted a couple of months before publicly available S-1 filings, and then another month or so before actual offerings.
• SpaceX filed confidentially on April 1, and investors are awaiting a publicly available S-1 that would portend a late June IPO.

Catch up quick: OpenAI recently beat back a legal challenge from Musk, who has vowed to appeal.

What they're saying: "As part of normal governance, we regularly evaluate a range of strategic options," an OpenAI spokesperson said. "Our focus remains on execution."