OpenAI Leans Toward Waiting Until Next Year for I.P.O.
Source: NYT
OpenAI is leaning toward holding off its initial public offering until next year, three people involved in the company’s deliberations said, a turnabout that punctuates the uncertain future for fast-rising artificial intelligence giants.
The maker of ChatGPT hired bankers and lawyers with an eye toward a public offering as soon as the third or fourth quarter of this year, the people said. Sam Altman, the company’s chief executive, pushed those advisers to find a way for the start-up to be valued at $1 trillion, up from the company’s last private valuation of $730 billion, according to the people involved, who did not want to be named because they were not permitted to speak publicly about internal deliberations.
But a cascade of recent developments has caused OpenAI’s executives to shift away from their most aggressive aspirations. Top of mind is what has happened to Elon Musk’s SpaceX after its I.P.O. this month. It was the largest ever, raising more than $85 billion and reaching a valuation of $1.77 trillion on its debut. Since then, SpaceX’s stock has been on a downward slide, as shares slumped to $153 at the end of the trading day on Thursday after reaching a high of $202 last week.
Global markets have also been choppy in recent weeks, with tech stocks dragging down indexes as investors question whether A.I. companies will live up to their sky-high promises.
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Read more: https://www.nytimes.com/2026/06/25/technology/openai-ipo-artificial-intelligence.html