OpenAI prepares biggest IPO of all time, could hit $1 trillion

OpenAI, the company behind the ChatGPT boom, is preparing for an initial public offering (IPO) that could value the company at as much as $1 trillion, according to people familiar with the matter. If it goes through, it could be one of the biggest IPOs of all time.

ChatGPT and Open AI logo in Toulouse, France. Photo: AFP/TTXVN

OpenAI is considering filing with US securities regulators as early as the second half of 2026, with plans to raise at least $60 billion in the initial phase. However, the specific figure and listing timing could change depending on growth and market volatility.

OpenAI chief financial officer Sarah Friar has reportedly told some associates that the company is aiming to go public in 2027, but many advisers believe the process could happen as early as late 2026.

“An IPO is not our focus at this time, so we cannot set any specific dates,” an OpenAI spokesperson said. “We are building a sustainable business and pursuing our mission of ensuring everyone can benefit from artificial general intelligence (AGI).”

The push for an IPO comes after OpenAI completed a complex internal restructuring that will reduce its reliance on Microsoft, which currently owns about 27% of the company after a $13 billion investment, according to Reuters. Going public will make it easier for OpenAI to raise capital, expand its acquisitions, and fund CEO Sam Altman’s trillion-dollar ambition to invest in AI infrastructure.

OpenAI is expected to reach annual revenue of about $20 billion by the end of this year, but with increasing losses at a valuation of about $500 billion, Mr. Altman said in a livestream on Tuesday: “I think an IPO is the most logical path for us given our massive capital needs going forward.”

Founded in 2015 as a nonprofit, OpenAI initially aimed to develop AI that was safe and beneficial to humanity, rather than focused on profit. A few years later, the company transitioned to a “nonprofit-supervised-for-profit” model, allowing its business arm to operate more efficiently but still under the control of its parent company.

This week, OpenAI continued its restructuring: the nonprofit, now called the OpenAI Foundation, will own a 26% stake in OpenAI Group, with the right to receive additional shares if the company hits certain growth milestones, making it a key stakeholder in OpenAI’s financial success.

If the IPO is successful, it would be a big boost for investors like SoftBank, Thrive Capital and Abu Dhabi's MGX fund.

The US stock market is currently booming with AI. Earlier this year, AI cloud computing company CoreWeave went public at a $23 billion valuation and its stock has tripled since then. Meanwhile, Nvidia just became the first company to reach a $5 trillion market capitalization, cementing its leadership in the global AI era.

According to the Wall Street Journal, OpenAI could go public as early as 2027.

Source: https://baotintuc.vn/kinh-te/openai-chuan-bi-thuong-vu-ipo-lon-nhat-moi-thoi-dai-co-the-cham-moc-1000-ty-usd-20251030095035503.htm