OpenAI selects law firms Cooley and Wachtell for IPO preparation which could come this year, as executives are said to be privately eyeing Q4 for a potential IPO, according to The Information

OpenAI selects law firms Cooley and Wachtell for IPO preparation which could come this year, as executives are said to be privately eyeing Q4 for a potential IPO, according to The Information.

OpenAI's selection of Cooley and Wachtell for IPO preparation indicates that the company is serious about going public, potentially in Q4. This move could lead to increased interest in AI and tech stocks, particularly in relation to Microsoft given their investment in OpenAI. The timing and execution of the IPO may influence market sentiment and valuations around similar tech companies during the latter part of the year.