I'm no expert, but I'm guessing that if Open AI can't do an initial public offering now, they sure won't be able to do it next year. I'd be surprised if Altman hasn't fled the country and gone into hiding before the end of this year. Softbank's Son thinking that throwing huge amounts of his companies money at Open AI suggests that maybe his days as CEO are numbered. On the other hand, Tesla board of directors keeps rewarding their obviously deranged CEO for burning vast amounts of cash.
What would be in the books that's not already widely reported?
It's not much of a scam if investors already know about the circular financing, lack of revenue, etc.
Just like SpaceX, a lot of people aren't investing for a sure thing, reasonable financial return.