OpenAI Gears Up For Landmark $1 Trillion IPO
OpenAI is reportedly preparing for a potential initial public offering that could value the company at a staggering $1 trillion, according to sources familiar with the matter, making it one of the largest IPOs in history.
The ChatGPT maker is said to be considering filing with securities regulators as early as the second half of 2026. Preliminary discussions suggest the company could look to raise at least $60 billion, with the final amount potentially going much higher. However, insiders cautioned that these plans are still in the early stages and could shift based on OpenAI’s business performance and broader market conditions.
OpenAI IPO Could Come As Soon As Late 2026, Say Insiders
Chief Financial Officer Sarah Friar has told some associates the company is aiming for a 2027 listing, the people said. But some advisers predict it could come even sooner, around late 2026.
“An IPO is not our focus, so we could not possibly have set a date,” an OpenAI spokesperson said. “We are building a durable business and advancing our mission so everyone benefits from AGI.”
OpenAI IPO Plans Signal Push Toward Public Markets
The IPO preparations signal a new urgency inside the ChatGPT maker to tap public markets now that a complex restructuring is complete that reduces its reliance on Microsoft (MSFT.O). An IPO would open the door to more efficient capital raising and enable larger acquisitions using public stock, helping to finance CEO Sam Altman’s plans to pour trillions of dollars into AI infrastructure, according to people familiar with the company’s thinking.
With an annualized revenue run rate expected to reach about $20 billion by year-end, losses are also mounting inside the $500 billion company, the people said.
Sam Altman Confirms OpenAI IPO “Most Likely Path”
During a livestream on Tuesday, Altman addressed the possibility of going public. “I think it’s fair to say it is the most likely path for us, given the capital needs that we’ll have,” he said.
OpenAI IPO Preparations Follow Major Corporate Restructuring
OpenAI started out as a nonprofit in 2015. A few years later, the company overhauled its structure again so that the nonprofit would have oversight and control over the for-profit arm. The main goal of the nonprofit was to ensure that OpenAI developed AI technology safely, rather than prioritizing profits like a traditional company.
This week, OpenAI revamped itself yet again. It is still controlled by a nonprofit, now called the OpenAI Foundation, but the nonprofit has a 26% stake in OpenAI Group and a warrant to receive additional shares if the company hits certain milestones. This change makes the nonprofit a significant stakeholder in OpenAI’s financial success.
OpenAI IPO Could Be A Massive Win for Early Investors
A successful offering would mark a major win for investors such as SoftBank, Thrive Capital, and Abu Dhabi’s MGX. Microsoft, one of its biggest backers, now owns about 27% of the company after investing $13 billion.
The deliberations come as AI is driving a surge in public markets. Earlier this year, AI cloud company CoreWeave went public at a $23 billion valuation and has roughly tripled since. On Wednesday, Nvidia became the first company to reach a $5 trillion market value, powered by a rally that has cemented its role at the center of the global AI boom.
The Wall Street Journal first reported on the possibility of OpenAI going public as early as 2027.
(With Inputs From Reuters)
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