OpenAI prepares for a mega IPO and aims for a valuation of up to US$1 trillion.
The plan could raise at least US$60 billion and go to market between 2026 and 2027.
247 - OpenAI, the developer of ChatGPT, has begun preparing an initial public offering (IPO) that could value it at up to US$1 trillion, in one of the largest IPOs in recent history. The company is discussing raising at least US$60 billion and is considering filing the documentation as early as the second half of 2026, although the timeline could still change depending on the market environment and the pace of the business. This information comes from Reuters.
According to people familiar with the discussions, Chief Financial Officer Sarah Friar indicated to interlocutors that the listing could occur in 2027, while advisors believe the move could be brought forward. The company stated that its focus remains on building a "lasting" and mission-driven business to advance so-called artificial general intelligence (AGI).
The IPO would solidify OpenAI's shift towards a market-compatible structure, following the corporate reorganization that positioned the non-profit foundation—now called the OpenAI Foundation—as a significant shareholder in the group and reduced its dependence on Microsoft. The operation would provide momentum for acquisitions and infrastructure investments, an area where CEO Sam Altman advocates for trillions of dollars in investments over the next few years.
Market context and figures
The discussion is taking place at the height of the artificial intelligence cycle in the stock markets. This month, OpenAI reached a market value of approximately US$500 billion after a secondary sale of shares to investors such as SoftBank and T. Rowe Price, signaling appetite for the company's stock even before an IPO.
– Defining the post-opening governance model, with the foundation retaining strategic influence.
– Market window between the second half of 2026 and 2027, subject to sector volatility and global liquidity conditions.
– Evolution of revenue streams and product base, including advances in search through artificial intelligence, factors that can calibrate the evaluation range.
