OpenAI is preparing for an initial public offering that could value the artificial intelligence pioneer at up to $1 trillion, Reuters reported. If realised, the offering would rank among the largest IPOs in history.
According to the report, OpenAI could file for listing as early as the second half of 2026, with plans to raise at least $60 billion. Some insiders, however, believe the IPO might come later, with chief financial officer Sarah Friar indicating a potential 2027 timeline. The company cautioned that discussions remain preliminary and dependent on business performance and broader market conditions.
An OpenAI spokesperson told Reuters, “An IPO is not our focus, so we could not possibly have set a date. We are building a durable business and advancing our mission so everyone benefits from AGI.”
The move follows a major restructuring of OpenAI’s corporate setup earlier this week, a shift that reduces its dependence on Microsoft, which holds a 27% stake after investing $13 billion. The restructuring established the OpenAI Foundation, a nonprofit that now controls 26% of OpenAI Group and holds warrants for additional shares tied to performance milestones.
A public listing would give CEO Sam Altman access to greater capital for his ambitious plans to invest trillions of dollars in AI infrastructure, Reuters noted. Despite an expected annualised revenue run rate of $20 billion by year-end, the company is still operating at a loss.
During a livestream on Tuesday, Altman acknowledged that going public was likely. “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.
The potential listing comes amid surging investor appetite for AI stocks. Earlier this year, CoreWeave went public at a $23 billion valuation and has since tripled in market value, while Nvidia recently became the first company to reach a $5 trillion valuation.
A successful IPO would mark a landmark moment for OpenAI’s backers, including SoftBank, Thrive Capital, and Abu Dhabi’s MGX, while reinforcing the AI sector’s status as the new engine of global markets.
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