OpenAI is reportedly laying the groundwork for an initial public offering that could value the artificial intelligence pioneer at up to $1 trillion, according to sources familiar with the matter, in what would rank among the largest IPOs in history. The company is considering filing with securities regulators as soon as the second half of 2026, exploring plans to raise at least $60 billion, though these figures and timelines could shift depending on market conditions and business growth.
Chief Financial Officer Sarah Friar has reportedly discussed a 2027 listing with associates, though some advisers suggest the offering could occur earlier, potentially in late 2026. An OpenAI spokesperson emphasized that an IPO is not currently the company’s primary focus, stating, “We are building a durable business and advancing our mission so everyone benefits from AGI.”
The preparations for going public reflect a renewed urgency at OpenAI following a major corporate restructuring that reduced its reliance on Microsoft and created new avenues for capital raising. An IPO would allow the company to access public markets more efficiently and facilitate larger acquisitions using stock, supporting CEO Sam Altman’s ambitious plan to invest trillions of dollars in AI infrastructure. The company’s revenue is expected to reach an annualized $20 billion by year-end, though losses are mounting within the $500 billion valuation.
Altman addressed the IPO possibility during a livestream, noting that going public is likely the most viable path given the company’s future capital needs. OpenAI, which began as a nonprofit in 2015, has evolved through multiple structural changes designed to balance mission-driven goals with financial growth. The most recent restructuring establishes the OpenAI Foundation as a significant stakeholder, holding a 26% stake in OpenAI Group with warrants for additional shares if key milestones are achieved.
Investors such as SoftBank, Thrive Capital, and Abu Dhabi’s MGX stand to benefit from a successful IPO, alongside Microsoft, which currently holds a 27% stake following a $13 billion investment. The move comes amid a broader surge in AI-driven markets. Earlier this year, AI cloud company CoreWeave went public at a $23 billion valuation, and Nvidia recently became the first company to reach a $5 trillion market value, underscoring the sector’s growing dominance. Reuters first reported the details of OpenAI’s IPO deliberations.
