OpenAI IPO

Photo Credit: Sam Altman by Steve Jurvetson / CC by 2.0

OpenAI prepares for an initial public offering that could value the company at up to a whopping $1 trillion in potentially the biggest IPO of all time.

Just after the announcement that OpenAI was restructuring into a for-profit company, the artificial intelligence leader is laying the groundwork for an initial public offering. The IPO could value the company at a staggering $1 trillion, according to those familiar with the matter, per Reuters.

Sources say that OpenAI is considering filing with securities regulators as soon as the second half of 2026. The company looked at raising $60 billion in preliminary discussions, and likely much more. Notably, as talks are in the early stages, the figures and the timing could change depending on market conditions and business growth.

“An IPO is not our focus, so we could not possibly have set a date,” said an OpenAI spokesperson. “We are building a durable business and advancing our mission so everyone benefits from AGI [artificial generative intelligence].”

According to Chief Financial Officer Sarah Friar, the company is aiming for a 2027 listing, but some advisors predict it could come as soon as the end of 2026. Regardless, preparations for an IPO reflect OpenAI’s eagerness to tap public markets now that its restructuring is complete.

During a livestream on Tuesday, OpenAI CEO Sam Altman addressed the possibility of going public, saying, “It’s fair to say it is the most likely path for us, given the capital needs that we’ll have.”

Altman has expressed plans to pour trillions of dollars into AI infrastructure, according to those close to the matter. Indeed, an IPO would enable more efficient capital raising and the potential for larger acquisitions, which coincide with Altman’s plans.

OpenAI was launched in 2015 as a non-profit company. But it overhauled its structure a few years later so that the nonprofit would have oversight and control over the company’s for-profit arm.

This week, OpenAI restructured yet again, and is still controlled by its nonprofit, now called the OpenAI Foundation. The nonprofit has a 26% stake in the for-profit OpenAI Group, and a warrant to receive additional shares if the company hits certain milestones.