OpenAI Leans Toward Delaying IPO to 2027 as Tech Market Volatility Weighs on Plans
OpenAI is leaning toward postponing its highly anticipated initial public offering until 2027, as advisers assess whether recent volatility in technology stocks could weaken investor demand for one of the largest potential listings in market history.
The New York Times reported, citing people involved in the deliberations, that bankers advising the ChatGPT developer had warned that turbulence across technology shares and declines following SpaceX’s record market debut could reduce retail investor appetite for another major technology offering.
OpenAI has already submitted confidential paperwork for an IPO to the US Securities and Exchange Commission, giving the company flexibility to proceed when market conditions and its strategic priorities are more favorable.
The artificial intelligence company said earlier in June that it had not made a final decision on timing, noting that some of its planned initiatives could be easier to complete while remaining privately held. The filing nevertheless preserves the option of moving ahead with a listing sooner should management decide that public markets offer greater advantages.
Chief Executive Sam Altman has reportedly encouraged the company’s bankers and legal advisers to pursue a valuation of around $1 trillion, reflecting the enormous investor interest generated by generative artificial intelligence and OpenAI’s central position within the sector.
A valuation at that level would place OpenAI among the world’s most valuable publicly traded companies and make its debut one of the largest and most closely watched technology listings on record.
However, the potential delay underscores the challenges facing highly valued artificial intelligence companies as investors increasingly scrutinize capital expenditure, profitability prospects, and the sustainability of valuations built around expectations of rapid AI-driven growth.
OpenAI and rival Anthropic have both been preparing for possible public listings as they seek access to additional capital to fund rising expenditure on advanced chips, computing capacity, data centers, and artificial intelligence research.
The companies are competing to develop increasingly powerful AI models while facing substantial infrastructure costs, making access to deep public capital markets potentially important for their long-term expansion strategies.
OpenAI reportedly raised $122 billion from investors earlier in 2026, valuing the company at approximately $852 billion, including the capital raised. The financing provided additional resources for its ambitious AI infrastructure and product development plans.
Reports that the IPO could be delayed affected shares of SoftBank Group, one of OpenAI’s largest investors, which fell sharply as expectations of an imminent public listing had contributed to optimism surrounding the Japanese investment group’s potential returns.
Despite the possible postponement, OpenAI’s confidential filing indicates that preparations for a stock market debut remain active. The final timing is likely to depend on technology-sector performance, investor sentiment, regulatory considerations, and the company’s readiness to operate under the greater financial disclosure requirements imposed on publicly traded businesses.