OpenAI submitted a draft prospectus for its initial public offering, firing the starting gun on another blockbuster stock-market flotation. The firm said it had announced the filing because it expected it to be leaked, and had not yet decided on the timing of its IPO. Reports suggest it could come as early as September and target a market capitalisation of $1trn. Anthropic recently filed papers for its market debut. Meanwhile, SpaceX prepared its first sale of shares. The most eagerly anticipated IPO in years was said to be heavily oversubscribed.
