OpenAI Weighs Trillion-Dollar IPO Following Major Restructuring
The company is exploring an IPO that could raise $60 billion, though the valuation and timing remain in flux.
Topics
News
- OpenAI Weighs Trillion-Dollar IPO Following Major Restructuring
- After AWS, Microsoft Faces Wide Azure Outage Before Earnings
- OpenAI Sets 2026 Goal for AI Research Intern, Plans $1.4T Compute Push
- OpenAI Becomes a For-Profit Company
- Jindal Steel Names Gautam Malhotra CEO
- AI Agents are Now Part of the Developer Workflow, Satya Nadella Says
OpenAI is laying the groundwork for a potential initial public offering (IPO) that could value the ChatGPT maker at about $1 trillion, Reuters reported, citing people aware of the matter. This move would rank among the largest public listings in history.
The generative AI company is said to be exploring a formal filing with US securities regulators as early as the second half of 2026, though the exact timing could shift depending on the market and the company’s trajectory.
Early discussions suggest OpenAI may seek to raise at least $60 billion, but analysts cautioned that the figures remain preliminary.
While some advisers expect the IPO could come by late 2026, Chief Financial Officer Sarah Friar has reportedly told associates that 2027 is a more likely target.
The IPO plans come a day after a major restructuring that gave OpenAI more financial independence.
Going public would let the company raise money on its own instead of depending on Microsoft. This could help OpenAI make big acquisitions, which is key to CEO Sam Altman’s goal of investing trillions in AI infrastructure.
OpenAI’s annualized revenue run rate is expected to hit $20 billion by the end of this year, though losses are also mounting.
During a recent livestream, Altman acknowledged that: “It’s fair to say that [an IPO] is the most likely path for us, given the scale of what we aim to build.”
The company’s latest restructuring cements its hybrid structure: a nonprofit foundation, now renamed the OpenAI Foundation, retains control of the for-profit OpenAI Group, holding a 26% stake and a warrant for additional shares tied to future milestones.
An IPO would be a significant win for investors including SoftBank, Thrive Capital, and Abu Dhabi’s MGX, as well as for Microsoft, which now owns roughly 27% of OpenAI after investing $13 billion.
The Wall Street Journal was the first to report that OpenAI could go public as early as 2027.
