OpenAI is in the early stages of planning for a potential initial public offering that could see the artificial intelligence company valued at up to $1 trillion, according to Reuters citing sources familiar with the matter. This could mark what could be one of the largest IPOs ever.
The company, famed for its ChatGPT platform, has initiated preliminary discussions on seeking a listing with US securities regulators as soon as the second half of 2026, sources indicated. The firm has reportedly contemplated raising at least $60 billion, with expectations rising for a higher fundraising target. They cautioned, however, that conversations remain at a nascent stage, and both the timeline and figures could shift in response to OpenAI’s business momentum and broader market conditions.
The report cited Chief Financial Officer Sarah Friar, telling some associates that a listing is targeted for 2027.
With the completion of a complex corporate restructuring aimed at decreasing reliance on Microsoft now finalized, OpenAI’s push toward going public has taken on new urgency. An IPO is expected to streamline capital raising and position the company for larger-scale acquisitions through public stock, thereby advancing CEO Sam Altman’s ambitious plans to invest trillions of dollars into AI infrastructure.
Speaking during a livestream on Tuesday, Altman acknowledged the likelihood of pursuing a public listing, stating, “I think it’s fair to say it is the most likely path for us, given the capital needs that we’ll have.”
OpenAI on Tuesday announced the conclusion of its recapitalization, solidifying its status as a nonprofit holding a controlling interest in its for-profit business. Under the new structure, the OpenAI Foundation holds a 26% stake in the for-profit arm, while current and former employees and investors collectively own 47%. The nonprofit has also secured a warrant allowing it to receive more shares contingent upon meeting certain milestones, thereby further cementing its position as a major financial beneficiary in OpenAI’s future success.
