OpenAI may delay blockbuster IPO to 2027

Investing.com — OpenAI is considering postponing its highly anticipated initial public offering (IPO) until 2027, according to a report Thursday from the New York Times, citing three people involved in the company’s internal deliberations. The artificial intelligence heavyweight, which recently formalized its intentions by submitting a confidential S-1 filing with the SEC, had originally positioned itself for a public debut as early as the third or fourth quarter of this year.

The potential delay highlights an internal tug-of-war over timing, market conditions, and a historic valuation target. The report said Chief Executive Sam Altman has fiercely pushed advisers to achieve a $1 trillion valuation for the ChatGPT maker—a steep climb from its last private funding round, which pinned the company’s valuation between $730 billion and $852 billion.

For months, the momentum behind an OpenAI debut felt unstoppable. The company cleared a massive hurdle when Elon Musk’s restrictive lawsuit was dismissed, and its core metrics have been explosive, with revenue hitting a historic $2 billion per month.

Furthermore, the public markets have proven they have an appetite for mega-scale debuts. Just weeks ago, SpaceX shattered records with its June 2026 IPO, raising over $85 billion and capturing a staggering $1.77 trillion valuation at its debut. Many viewed SpaceX’s blockbuster entry as a green light for OpenAI and rival Anthropic to execute a trifecta of trillion-dollar tech listings this year. For OpenAI to put on the brakes now signals a abrupt shift from aggressive expansion to defensive posturing.

Despite eye-popping revenue growth, recent disclosures have given Wall Street a sobering reality check. OpenAI’s audited financial documents recently revealed a staggering $38.5 billion net loss for last year, driven by a massive $34 billion spending spree on computing power, R&D, and structural corporate shifts.

While SpaceX’s IPO was a historical milestone, its immediate aftermath exposed a fickle market: SpaceX shares have since declined to $153 from a peak of $202 last week. That retreat, combined with broader tech sector volatility, has investors asking tough questions about whether the commercial returns of generative AI can keep pace with the astronomical infrastructure costs required to build it.

Advisers have warned OpenAI executives that retail enthusiasm may be limited given the current market jitters. According to The Times, they presented Altman with two stark choices:

1. 
   

   Wait until 2027 to allow the market to stabilize and let the company’s financials mature into a $1 trillion valuation.

   
   


2. 
   

   Accept a lower valuation to fast-track an IPO into the public markets by late 2026.

   
   

According to a source in direct contact with Altman, the Chief Executive firmly rejected any compromise on the trillion-dollar figure. For now, OpenAI appears willing to wait out the storm to ensure it debuts on its own terms—and at its own price tag.

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