OpenAI is preparing to confidentially file paperwork for a potential initial public offering, with a submission to US regulators that could come within days, the Wall Street Journal reported, citing people familiar with the matter.

The move would take the ChatGPT maker a step closer to tapping public markets as it seeks additional funding to support the growing costs of building and running advanced artificial intelligence systems.

Citing people familiar with the matter, the WSJ reported on Wednesday that OpenAI is working with bankers including Goldman Sachs and Morgan Stanley on a draft IPO prospectus. The filing could be submitted confidentially as early as Friday, although the timing remains subject to change.

Such a confidential submission would allow OpenAI to engage with regulators and adjust its plans before publicly launching an offering.

OpenAI did not immediately respond to a request for comment fromReuters, which said it had not independently verified the report.

Reuters had previously reported that the company was considering an IPO filing in the second half of 2026, indicating that preparations have been in motion for some time. The latest developments suggest those plans may now be moving forward more quickly.

Key details, including valuation, structure and final timing, have yet to be disclosed.

A stock market listing would open the door to a broader pool of funding, while also bringing new obligations to shareholders and regulators. For a company operating at the forefront of a fast-moving industry, that balance could prove significant.

The reported progress comes shortly after a US courtdismisseda lawsuit brought by Elon Musk, removing a potential complication as OpenAI explores raising new capital.

Musk, who co-founded OpenAI in 2015, had sought $150 billion in compensation, accusing chief executive Sam Altman and president Greg Brockman of moving the organisation away from its original non-profit purpose. He alleged that company leadership benefited financially from changes to its structure.

Source: International Business Times UK