OpenAI is reportedly preparing for one of the largest IPOs in history, aiming for a potential $1 trillion valuation. The company is expected to file with U.S. regulators in the second half of 2026, targeting a public listing in 2027. Sources indicate that OpenAI could raise at least $60 billion, depending on business performance and market conditions.
Chief Financial Officer Sarah Friar has reaffirmed 2027 as the target year, though some advisers suggest the listing could occur earlier, possibly by late 2026. An OpenAI spokesperson clarified that the IPO is “not the current focus,” emphasizing that the company remains committed to building a sustainable business while advancing its mission to ensure that artificial general intelligence (AGI) benefits all of humanity.
The IPO plan follows a major corporate restructuring designed to reduce dependence on Microsoft and improve OpenAI’s ability to raise capital independently. Going public would give OpenAI access to broader funding sources, enabling large-scale AI infrastructure investments and acquisitions — key to CEO Sam Altman’s ambition of investing trillions into AI development.
OpenAI’s revenue run rate is projected to hit $20 billion by the end of 2025, though the company continues to face steep operating losses even at an estimated $500 billion valuation. Altman has acknowledged that a public offering is “the most likely path” to meet its capital needs.
Founded in 2015 as a nonprofit, OpenAI now operates under a hybrid model, with the OpenAI Foundation holding a 26% ownership stake and performance-linked warrants — ensuring mission alignment as it transitions into a commercial powerhouse.
