ChatGPT owner OpenAI is considering postponing its initial public offering (IPO) until 2027, according to reports citing confidential deliberations. This potential delay comes after OpenAI confidentially filed for an IPO with the US Securities and Exchange Commission earlier in June, having previously aimed for a public debut as early as the third or fourth quarter of 2026. The company's CEO, Sam Altman, is reportedly adamant about achieving a $1 trillion valuation, a significant increase from its last private valuation which ranged between $730 billion and $852 billion. Bankers advising OpenAI have cautioned that recent volatility in tech stocks, particularly the performance of SpaceX's shares post-IPO, could dampen investor enthusiasm for OpenAI's offering.
Advisers presented Altman with two primary options: wait until 2027 for a more stable market and to allow the company's financials to mature to support a $1 trillion valuation, or accept a lower valuation for a quicker IPO in late 2026. Altman has reportedly rejected any valuation lower than $1 trillion, indicating a willingness to wait to meet his target. This decision is a shift from earlier expectations, which saw OpenAI and rival Anthropic racing for Wall Street debuts as soon as 2026 to fund their substantial investments in AI chips and data centers.
OpenAI's hesitation stands in contrast to its competitor, Anthropic, which confidentially filed to go public shortly before OpenAI and is expected to proceed with its debut this year. Anthropic, known for its Claude AI software, has seen its revenue grow significantly in 2026 and recently raised funding at a $965 billion valuation, briefly surpassing OpenAI's private valuation. The broader tech IPO market has also seen recent activity, with SpaceX's June 2026 IPO raising over $85 billion and achieving a $1.77 trillion valuation on debut, though its stock has since experienced volatility. OpenAI's recent financial disclosures revealed a $38.5 billion net loss in the past year, driven by a $34 billion spending spree on computing power and R&D.
