Goldman Sachs leads OpenAI’s prospective IPO at 60% implied probability due to its designation alongside Morgan Stanley as primary bookrunner in the company’s June 2026 confidential S-1 filing with the SEC. Goldman’s stronger positioning stems from its dominant role in recent high-profile technology and artificial-intelligence listings, including SpaceX, plus deeper relationships across the sector that give it an edge in allocation and execution. Morgan Stanley’s 20% share reflects its comparable advisory work on both OpenAI and rival Anthropic preparations, while banks like JPMorgan and Citigroup remain at minimal odds after exploratory discussions yielded only secondary syndicate roles. The shift of the listing target to 2027, driven by AI safety priorities, has not altered these bank dynamics.