OpenAI has confidentially filed its prospectus with the US Securities and Exchange Commission (SEC), but the company has yet to announce a date for its initial public offering (IPO).
Chief Financial Officer Sarah Friar told employees in August that the company “will be a public company in 2027”. However, CEO Sam Altman struck a more cautious tone the following month, saying that “right now would be an ill-advised moment to go public”.
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The contrasting remarks reflect the challenges facing AI companies as they invest heavily in computing infrastructure, talent and market share while investors question how quickly soaring valuations can translate into earnings.
Anthropic IPO Plans Raise The Stakes
OpenAI’s closest rival, Anthropic, has also confidentially filed its prospectus with regulators and held meetings with prospective investors, according to CNBC.
The company is reportedly targeting a valuation of $1.5 trillion to $2 trillion in its offering. In May, Anthropic closed a $65 billion funding round at a valuation of $965 billion, underscoring the scale of investor interest in leading AI companies.
For OpenAI, its latest funding round would provide additional financial runway while reinforcing its position among the world’s most valuable private companies. It could also set the stage for one of the technology sector’s most closely watched IPOs.
