OpenAI's Public Market Debut Pushed Back to 2027 Amid Valuation Ambitions and Market Volatility

OpenAI is leaning towards postponing its initial public offering plan to 2027, with recent volatility in technology stocks and a cooling market sentiment being the primary considerations. This suggests the public market debut of this artificial intelligence giant could occur much later than previously anticipated.

According to a report citing three individuals familiar with the matter, bankers advising OpenAI on the IPO have cautioned that recent tech stock fluctuations and the post-listing price pressure on SpaceX could dampen retail investor enthusiasm for an OpenAI offering.

Concurrently, CEO Sam Altman is reportedly pressuring advisors, including bankers and lawyers, to target a valuation of $1 trillion.

This adjustment to the timeline has a direct market impact—public market investors who had hoped to participate in an OpenAI listing within this year may now face a significantly longer wait. It could also affect expectations for capital flow between the primary and secondary markets across the broader AI sector.

In a previous report, Altman stated that OpenAI would pursue an IPO within the next year. The company confirmed on June 9 that it had confidentially submitted IPO paperwork to the U.S. Securities and Exchange Commission (SEC).

OpenAI is not the only AI giant planning a public listing. Rival Anthropic is also striving to list on Wall Street as soon as possible, with both companies seeking public market financing to support massive expenditures on chips and data centers.

Anthropic confidentially filed for an IPO slightly ahead of OpenAI and could list as early as October this year. Once considered a relatively weaker competitor, the company has seen its market position significantly enhanced this year due to a substantial revenue surge driven by its Claude series of products, particularly its programming tools.

Earlier this year, OpenAI completed a funding round of $122 billion to support its large-scale investments in AI infrastructure. Following this round, the company's valuation reached $852 billion.