(Oct 30): Artificial intelligence (AI) start-up OpenAI is preparing to file for an initial public offering (IPO) as soon as next year that could give the company a market capitalisation of US$1 trillion, Reuters reported on Wednesday, citing unidentified sources.
The company is laying the groundwork for what would be one of the largest-ever IPOs, and is considering filing paperwork with regulators as soon as the second half of 2026, the outlet said.
In a statement, a spokesperson for OpenAI said, “An IPO is not our focus, so we could not possibly have set a date. We are building a durable business and advancing our mission so everyone benefits from AGI”. AGI, or artificial general intelligence, is technology that can outperform humans at most economically useful tasks.
Earlier this week, OpenAI said it had completed a restructuring into a more traditional corporate organisation, which could make an IPO possible for the company. OpenAI was most recently valued at US$500 billion in an employee share sale.
OpenAI’s demands for capital are intense. The company, which is not yet profitable, has committed to spending US$1.4 trillion on infrastructure for AI, chief executive officer Sam Altman said at an event this week. In addition to seeking financing through funding rounds and debt, Altman has said that an eventual IPO is the most likely path for the company.
Reuters reported that the company had discussed seeking to raise at least US$60 billion in an IPO.
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