Fortune reports that a coalition of state attorneys general has opened a probe into whether OpenAI caused possible harm to users, with the investigation becoming public just days after the company made a confidential S-1 filing targeting a roughly $1 trillion valuation. The timing adds significant regulatory pressure to what was already one of the most closely watched public offerings in tech history. Details of the alleged user harms were not disclosed, but multistate AG investigations typically examine consumer protection, data privacy, and product safety concerns. OpenAI previously filed its IPO paperwork in mid-June 2026, with Sam Altman signaling the listing could happen before the end of the year. The probe comes as OpenAI also navigates the planned retirement of GPT-4.5 from ChatGPT on June 27.