OpenAI has hired Cooley and Wachtell law firms to prepare for its IPO, which could take place as early as this year.

``` OpenAI takes a key step toward going public, hiring top law firms to prepare for its IPO, as the AI giant enters the countdown to entering the capital markets. According to the latest report from The Information, insiders have revealed that OpenAI has hired two law firms, Cooley and Wachtell Lipton Rosen & Katz, to prepare for its initial public offering (IPO). The listing could happen as soon as the fourth quarter of this year. Choosing law firms is usually an early stage in the IPO process, followed by appointing investment banks as advisors. In the current funding round, OpenAI's pre-investment valuation has reached as high as $730 billion. If successfully listed, this may become one of the largest IPOs in history, giving ordinary investors a chance to share in the AI boom. Senior executives' private statements and moves by major investors OpenAI executives have privately stated that the company could go public as soon as the fourth quarter of this year and is laying the groundwork for it. This process usually includes legal preparations and extensive negotiations with securities regulators. Market expectations for OpenAI and its competitor Anthropic's IPOs have been brewing for several months. On Wednesday, Nvidia CEO Jensen Huang, an important OpenAI partner, revealed significant clues at a Morgan Stanley investor conference in San Francisco. Nvidia invested $30 billion in OpenAI in the current funding round, but Huang said that the previously announced investment plan of up to $100 billion "may not materialize," because "the reason is they are going to go public." In addition, Amazon has pledged an initial $15 billion investment in OpenAI in the current funding round and says it may invest another $35 billion "in the next few months" under certain conditions, including a public listing. Law firm backgrounds and competitor dynamics The two law firms selected by OpenAI have previously handled some legal matters for the company. New York-based Wachtell has been involved in several OpenAI acquisitions, including last year's $6.5 billion acquisition of Jony Ive's io products and the $1.1 billion acquisition of product analytics startup Statsig. Cooley is known for assisting tech companies such as Nvidia and Snowflake in preparing for IPOs. The Financial Times had previously reported that OpenAI was in talks with Cooley, but it was not confirmed as the final choice. It is worth noting that, according to insiders, OpenAI's competitor Anthropic has also hired the law firm Wilson Sonsini to prepare for its potential public offering. Risk warning and disclaimer There are risks in the market, and investments should be made with caution. This article does not constitute personal investment advice, nor does it take into account the individual investor's specific investment objectives, financial situation, or needs. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular circumstances. Investments made based on this content are at your own risk. ```