OpenAI eyes juggernaut $1 trillion IPO

STORY: :: FileOpenAI is laying the groundwork for one of the biggest IPOs of all time, eyeing a valuation of up to $1 trillion.Three people familiar with the matter said the ChatGPT-maker is seeking to raise at least $60 billion.But they say talks are at an early stage, and plans could still change.:: FIle CFO Sarah Friar has reportedly said the company is aiming for a 2027 listing, but some advisers predict it could even come late next year. :: FileCEO Sam Altman earlier said an initial public offering was the most likely path for the firm's future, given how much money it needs to train and build AI systems.While revenue is set to hit an annual rate of about $20 billion by year-end, the sources say losses are also mounting.:: FileNow the IPO plan comes after news of a restructuring deal with Microsoft that frees OpenAI from its nonprofit roots, and paves the way to finance Altman's ambitious plans to develop data centers and cutting-edge tech.:: FileThe deal gives Microsoft, one of OpenAI's biggest backers, a stake of about 27% in the company after investing $13 billion.:: FileA successful offering would also mark a major win for investors such as SoftBank, Thrive Capital and Abu Dhabi's MGX.:: FileAI is currently driving a surge in public markets. Earlier this year, AI cloud company CoreWeave went public at a $23 billion valuation and has roughly tripled since. :: FileOn Wednesday, chipmaker Nvidia became the first firm to reach a $5 trillion market value, powered by a rally that has cemented its role at the center of the global AI boom.

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