OpenAI, the parent company of the famous ChatGPT, is preparing for what could become one of the largest initial public offerings (IPOs) in history, a move that might value the company at around $1 trillion. That’s according to people familiar with the matter, as first reported by Reuters.
This comes barely a month after the San Francisco-based artificial intelligence (AI) company achieved a $500 billion valuation to become the world’s most valuable startup.
The company is said to be considering filing with securities regulators as early as the second half of 2026, though a 2027 listing remains under discussion, those sources say. In early talks, OpenAI has reportedly looked at raising at least $60 billion in the offering, with the final figure potentially much higher.
Despite the enormous scale of the potential offering, company executives were quick to curb expectations. A company source explained, “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.”
The company’s public listing ambitions come after a sweeping restructuring that freed the company from some of its previous constraints, particularly those tied to its relationship with Microsoft. The restructuring allows it greater flexibility to raise capital, make acquisitions and scale its infrastructure. Recently, during a livestream, OpenAI’s CEO Sam Altman acknowledged the likely path to a public offering, noting it is “the most likely path for us, given the capital needs that we’ll have.”
According to reports, the company expects to reach an annualised revenue run rate of around $20 billion by the end of the year, while losses are still mounting at what some estimate is roughly $500 billion. The IPO could provide both fresh capital and the public stock currency required for large-scale strategic acquisitions and infrastructure build-out.
Though the figures are striking, the plan is at an early stage, and both timing and the final offering size remain fluid. The company reportedly told associates that the target listing could take place in 2027, though many advisers believe late 2026 is plausible.
Raising $60 billion or more in an IPO would be historic. Very few companies have attempted such large offerings. For OpenAI, a successful IPO at or near a $1 trillion valuation would position it alongside the largest public-market entries in history and reflect the broader surge of investor interest in AI.
Still, much will depend on business growth, market conditions and the company’s ability to convert its vast ambitions into sustainable commercial results.
One industry analyst noted the scale of infrastructure required to support OpenAI’s ambitions; Altman recently said the company aimed to build 30 gigawatts of computing resources for up to $1.4 trillion in investment.
What OpenAI’s IPO and $1 trillion valuation mean
For the broader tech industry, OpenAI’s IPO plans signal a growing recognition that the AI revolution is entering a new phase, one defined not just by research breakthroughs but by scale, infrastructure and monetisation.
A public listing would also mark a major milestone for investors in OpenAI, including SoftBank, Thrive Capital, Abu Dhabi’s MGX and Microsoft, which reportedly owns about 27% of the company after a $13 billion investment.
Moreover, the timing could influence capital-markets sentiment. If OpenAI hits the public markets with such a high valuation, it may encourage more AI-driven companies to pursue IPOs while also raising questions about valuations, competition and risk in the sector.
Also read: OpenAI takes on Chrome with new AI-powered browser, ChatGPT Atlas
Ultimately, OpenAI’s plans for a blockbuster IPO reflect both the scale of its ambitions and the transformation underway in the tech industry. While the timing and details remain uncertain, one thing is clear: if all goes as reported, we are looking at a defining moment for AI and for Silicon Valley.
