OpenAI Prepares for IPO, Could Reach a Valuation of Up to $1 Trillion
During a live broadcast on Tuesday, Altman acknowledged that an IPO is “the most likely path forward, given the scale of capital we’ll need.
Quick overview
- OpenAI is preparing for an initial public offering (IPO) that could value the company at up to $1 trillion.
- The IPO filing is tentatively planned for the second half of 2026, with a fundraising target of at least $60 billion.
- The company aims to reduce its reliance on Microsoft and expand its capital market access to finance large-scale AI projects.
- CEO Sam Altman indicated that going public is the most likely option to secure the necessary capital for future growth.
The creator of ChatGPT is moving forward with plans to go public, in what could become one of the largest IPOs in history. Some advisers estimate the listing could take place by late 2026.
OpenAI, the company behind ChatGPT, has begun laying the groundwork for an initial public offering (IPO) that could value it at up to $1 trillion, according to three sources familiar with the process. If completed, it would rank among the biggest stock market debuts ever.
According to those sources, the company is considering filing its paperwork with regulators in the second half of 2026. In preliminary discussions, OpenAI has reportedly set a fundraising target of at least $60 billion, though both timing and amounts may change depending on business performance and market conditions.
Some advisers suggest the listing could happen by late 2026, while Chief Financial Officer Sarah Friar has privately mentioned a possible 2027 timeline.
“An IPO is not our current focus, so we have not set a date,” an OpenAI spokesperson clarified. “We are focused on building a strong business and advancing our mission to ensure everyone benefits from artificial general intelligence (AGI).”
Less Reliance on Microsoft and New Expansion Plans
The IPO preparations come after an internal restructuring aimed at reducing OpenAI’s dependence on Microsoft, allowing the company greater flexibility to tap into capital markets. Going public would enable OpenAI to finance large-scale projects and acquisitions through share issuance—a key step in CEO Sam Altman’s plan to invest trillions of dollars in artificial intelligence infrastructure.
Sources close to the company say OpenAI is on track to end the year with an annualized revenue rate of around $20 billion, though it continues to face rising losses. The company is currently valued at roughly $500 billion.
During a live broadcast on Tuesday, Altman acknowledged that an IPO is “the most likely path forward, given the scale of capital we’ll need.”
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