OpenAI is planning an initial public offering that could value the artificial intelligence company at up to $1 trillion, according to sources familiar with the matter. The potential listing would rank among the largest in corporate history.
The ChatGPT maker is considering filing with US securities regulators as early as the second half of 2026, with some advisers predicting a late-2026 debut. While Chief Financial Officer Sarah Friar has indicated a 2027 target internally, the company has not set a definitive date.
Preliminary discussions have explored raising at least $60 billion, though sources caution that all figures and timing remain fluid and dependent on business growth and market conditions.
“An IPO is not our focus, so we could not possibly have set a date,” an OpenAI spokesperson stated. “We are building a durable business and advancing our mission so everyone benefits from AGI.”
Artificial intelligence startup OpenAI is preparing to file for an initial public offering as soon as next year that could give the company a market capitalization of $1 trillion, Reuters reported https://t.co/g9g5OQRtmS
— Bloomberg (@business) October 29, 2025The preparations signal a new phase for OpenAI following a recent corporate restructuring that reduced its operational reliance on Microsoft. CEO Sam Altman has acknowledged the likelihood of going public, stating during a recent livestream, “I think it’s fair to say it is the most likely path for us, given the capital needs that we’ll have.”
The push for public capital comes as OpenAI’s annualised revenue is projected to reach approximately $20 billion by year-end. However, the company is also facing mounting losses as it continues its aggressive expansion in the competitive AI sector.
Read: Microsoft Secures 27% Stake in OpenAI in Landmark $500 Billion Deal
OpenAI has undergone several structural transformations since its founding as a non-profit in 2015. Its latest reorganisation maintains a non-profit foundation with oversight control and a significant 26% stake in the for-profit operating company.
A successful public offering would deliver substantial returns for key investors, including Microsoft, which holds a 27% stake following its $13 billion investment, as well as SoftBank and Thrive Capital. The potential listing emerges amid intense investor enthusiasm for AI companies, highlighted by Nvidia’s recent $5 trillion market valuation.
