OpenAI plans potential record‑breaking IPO
Company could seek $60 billion raise with $1 trillion valuation
OpenAI is preparing for a potential initial public offering that could become one of the largest in history, with sources saying the company is eyeing a valuation of up to $1 trillion and plans to raise at least $60 billion. Preparations are in early stages and timing remains fluid: some advisers expect filing as soon as the second half of 2026 with a listing later that year or in 2027, while OpenAI spokespeople stress an IPO is not a fixed focus. The move follows a major internal restructuring that converted OpenAI into a public benefit corporation and simplified its corporate structure, creating a for‑profit arm while keeping the nonprofit in control.
The restructuring, together with a recent Microsoft recapitalisation that granted the cloud giant roughly a 27% stake after about $13 billion of investment, is seen as clearing regulatory and governance hurdles and enabling OpenAI to access large-scale capital for data centres, chip-enabled infrastructure and acquisitions. CEO Sam Altman has framed an IPO as a likely route to fund the enormous and growing costs of training advanced AI models; revenue is forecast to reach an annual run rate near $20 billion, but losses and heavy spending on compute, marketing and employee equity have made fresh capital a priority.
Investor backers such as SoftBank, Thrive Capital and Abu Dhabi’s MGX stand to benefit from a public listing, while broader market enthusiasm for AI has boosted related stocks—most notably Nvidia’s surge to a multi‑trillion-dollar market value. Analysts caution that the success of a blockbuster float hinges on sustained market conditions, regulatory scrutiny and governance questions tied to OpenAI’s blended mission-profit structure. Regulators and investors will scrutinise profitability prospects given the firm’s large operating outlays and reliance on major partners like Microsoft.
If executed at the reported scale, the IPO would mark a landmark moment for the AI industry, offering public investors direct exposure to generative AI’s commercialisation and signalling confidence in further expansion of compute-heavy AI infrastructure. OpenAI and advisers continue planning while acknowledging timelines and capital targets could change as they weigh market appetite, regulatory expectations and the company’s long-term funding needs.
