OpenAI is reportedly preparing for an initial public offering that could value the company at as much as $1 trillion, with filings possible in the second half of 2026, according to sources familiar with the matter.
CEO Sam Altman told Reuters during a livestream that going public “is the most likely path for us, given the capital needs that we’ll have.” The sources say the ChatGPT maker is actively laying groundwork for an IPO that could reach a $1 trillion valuation.
Despite the IPO chatter, OpenAI has faced mounting losses, with estimates placing quarterly losses as high as $11.5 billion in the most recent quarter, underscoring the capital-intensive nature of its AI ambitions.
Going public could provide more direct access to capital and enable larger acquisitions using public stock, helping finance plans to spend trillions on AI infrastructure. CFO Sarah Friar has reportedly indicated a target IPO in 2027, though some advisers think 2026 could still be possible.
Preliminary talks reportedly contemplated raising around $60 billion from investors. If that amount is raised while keeping most shares private, the company’s total value could exceed $1 trillion. Final figures will depend on growth and market conditions, and the company could adjust timing accordingly. An OpenAI spokesperson told Reuters that an IPO is not the current focus and that the company remains focused on building a durable business.
