OpenAI Chief Financial Officer: Will reserve some IPO shares for retail investors

OpenAI's Chief Financial Officer, Sarah Freyl, stated on Wednesday that the company plans to reserve a portion of its initial public offering shares for individual investors. The chat GPT manufacturer is preparing for a highly-anticipated listing on the US stock market. Freyl said that the company began experimenting with retail investors in its recent round of fundraising and saw a "very strong demand" from individuals. The company initially aimed to raise $1 billion from individual investors through private placements with banks like JPMorgan, Morgan Stanley, and Goldman Sachs, but ended up receiving three times that amount in the largest private placement in these banks' history.