Overview
- Reuters-based reports say advisers have discussed a filing as early as the second half of 2026, with some insiders pointing to 2027 depending on market conditions.
- In preliminary talks, the company has considered raising at least about $60 billion in a public offering.
- California Attorney General Rob Bonta approved OpenAI’s recapitalization, leaving the OpenAI Foundation with roughly 26% and Microsoft with about 27% after a $13 billion investment.
- OpenAI is expected to reach an annualized revenue run rate of around $20 billion by year-end, and a recent employee share sale valued the company at about $500 billion.
- An OpenAI spokesperson says an IPO is not the focus, while CEO Sam Altman highlights significant capital needs and Microsoft notes a strengthened agreement and growing Azure commitments.