OpenAI reportedly preparing an historic IPO targeting $1 trillion valuation

OpenAI, the company that launched the global generative AI revolution, is reportedly laying the foundation for a massive Initial Public Offering (IPO) that could value the company at up to $1 trillion. If successful, it would make the IPO one of the largest public debuts in history.

According to sources familiar with the preliminary discussions, the ChatGPT maker is exploring a filing with U.S. securities regulators as early as the second half of 2026, aiming to raise at least $60 billion in capital.

Trillion-dollar ambition and capital needs

The staggering valuation reflects the explosive growth of OpenAI's subscription and enterprise products, projected to reach $20 billion by the end of this year, and the immense capital required to fuel its future.

CEO Sam Altman has been vocal about his vision to invest trillions of dollars into building the next generation of AI infrastructure and supercomputing resources. An IPO would provide a more efficient mechanism for raising this vast capital and reduce the company’s reliance on its earliest backer, Microsoft.

Corporate restructuring

The IPO preparations follow a major corporate restructuring that recently transformed OpenAI into a for-profit public benefit corporation. This new structure, which gives the founding non-profit entity a significant financial stake, makes the company more appealing to conventional public investors.

While some advisers predict a late 2026 filing, Chief Financial Officer Sarah Friar has reportedly indicated a target listing date of 2027.

Riding the AI wave on Wall Street

Once completed, the OpenAI IPO would cement its status as the world’s most valuable startup, joining an elite group of tech giants like Apple, Microsoft, Amazon, and NVIDIA. The timing capitalizes on surging investor appetite for AI, a trend that recently saw NVIDIA become the first company to reach a $5 trillion market value.

Responding to the news, an OpenAI spokesperson did not deny the report but said the company’s focus was on building lasting business. "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," he said.

However, CEO Sam Altman admitted the move is necessary, stating recently that going public is "the most likely path for us, given the capital needs that we'll have." The public offering would allow early investors and employees to realize massive returns on the company that sparked the global AI boom.