OpenAI eyes record-breaking $1 trillion IPO - report

[ChatGPT, Gemini and Meta AI app icons on screen]

ChatGPT maker OpenAI (OPENAI [https://seekingalpha.com/symbol/OPENAI]) is reportedly preparing for an initial public offering that could value the company as much as $1 trillion, _Reuters _reported, citing people familiar with the matter.

The company is considering filing with securities regulators as soon as H2 2026, aiming to raise $60 billion at the lower end and likely more, the report said. The IPO discussions are still in early stages, and figures or timelines may shift based on business and market conditions, the sources cautioned.

CFO Sarah Friar told some associates that the company aims for a 2027 listing, the people said [https://www.reuters.com/business/openai-lays-groundwork-juggernaut-ipo-up-1-trillion-valuation-2025-10-29/]. However, some advisers say it might happen sooner, around late 2026.

"An IPO is not our focus, so we could not possibly have set a date," an OpenAI spokesperson told _Reuters_. "We are building a durable business and advancing our mission so everyone benefits from AGI."

OpenAI did not immediately respond to Seeking Alpha's request for comment.

The company recently completed a restructuring to reduce reliance on Microsoft (MSFT [https://seekingalpha.com/symbol/MSFT]) and is expected to have an annualized revenue run rate of about $20 billion by year-end.

The ambitious $1 trillion valuation is a massive jump from the recent $500 billion, while the tech firm continues to run substantial losses due to heavy investments in AI research and infrastructure.

Sam Altman said earlier this week that an IPO is likely [https://seekingalpha.com/news/4509976-openais-pledge-to-remain-in-california-helps-clear-path-for-potential-ipo] but that the company does not have specific plans. It would be one of the biggest IPOs in history. It would be one of the biggest IPOs in history. The talks have been preliminary, and the IPO could happen later or be scrapped, a _WSJ_ report said.

The listing would give massive returns to early backers, including SoftBank (OTCPK:SFTBY [https://seekingalpha.com/symbol/SFTBY]), Thrive Capital and Abu Dhabi’s MGX and Microsoft (MSFT [https://seekingalpha.com/symbol/MSFT]).

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