Catenaa, Thursday, October 30, 2025– OpenAI is laying the groundwork for an IPO that could value the company at up to $1 trillion, in what could be one of the biggest of all time.
Reuters said that OpenAI is considering filing with securities regulators as soon as the second half of 2026.
In preliminary discussions, the company has looked at raising $60 billion at the low end and likely more, the people said. They cautioned that talks are early and plans, including the figures and timing, could change depending on business growth and market conditions.
The report said that CFO Sarah Friar has told some associates the company is aiming for a 2027 listing, but some advisers predict it could come even sooner, around late 2026.
“An IPO is not our focus, so we could not possibly have set a date,” an OpenAI spokesperson said. “We are building a durable business and advancing our mission so everyone benefits from AGI.”
The IPO preparations signal a new urgency inside the ChatGPT maker to tap public markets now that a complex restructuring is complete, which reduces its reliance on Microsoft.
An IPO would open the door to more efficient capital raising and enable larger acquisitions using public stock, helping to finance CEO Sam Altman’s plans to pour trillions of dollars into AI infrastructure, according to people familiar with the company’s thinking.
With an annualized revenue run rate expected to reach about $20 billion by year-end, losses are also mounting inside the $500 billion company, the people said.
During a livestream on Tuesday, Altman addressed the possibility of going public. “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.
