It’s shaping up to be a busy year for initial public offerings from some of the most closely watched companies.
Rumors have been floating around for a while now that SpaceX, Elon Musk’s space company, and Anthropic, the artificial intelligence startup behind Claude, could make their market debuts in the summer and by the end of 2026, respectively.
And now, a report says that OpenAI—Anthropic’s main competitor, and the owner of ChatGPT—could go public before the end of the year, too. Here’s what you need to know about OpenAI’s rumored IPO plans.
OpenAI may go public in 2026
A report from the Wall Street Journal yesterday has investors buzzing: ChatGPT owner OpenAI is reportedly considering an initial public offering before the year closes.
According to the report, OpenAI is in “informal talks” with banks on Wall Street about a “potential” IPO. The artificial intelligence company is also reportedly staffing up in preparation for an IPO.
The WSJ says OpenAI recently hired a new chief accounting officer and a new business finance officer, the latter of whom will oversee OpenAI’s investor relations department. The report cited anonymous sources.
Fast Company reached to OpenAI for comment.
Pressure and financial need may be driving OpenAI’s 2026 IPO ambitions
In the past, OpenAI CEO Sam Altman hasn’t spoken enthusiastically about one day running a public company.
As a private company currently, OpenAI doesn’t have to answer to Wall Street or retail investors, giving it much more freedom in how it chooses to run its business—which is currently operating at a major loss.
But as a public company, Altman and OpenAI would have to take investors’ desires and expectations for returns-on-investment into account. This would make Altman, who is currently answerable to very few, answerable to legions of shareholders.
So why go public sooner rather than later? The Journal’s report says that there are two main factors driving OpenAI’s exploration of a 2026 IPO.
The first is Anthropic, one of OpenAI’s biggest competitors. OpenAI executives have expressed concerns about Anthropic listing first, WSJ reports.
There is massive pent-up demand from retail investors who want to get in on the latest spate of AI companies. If Anthropic were to go public first, it could potentially dampen demand for OpenAI shares.
The second factor driving OpenAI to explore a potential 2026 IPO reportedly has to do with the company’s finances. Current investors are concerned about the company’s cash flow as it continues to spend billions training its models and building out its AI infrastructure.
Despite ChatGPT’s popularity and cultural cache, loss-making OpenAI is burning through piles of cash. Most analysts don’t expect OpenAI to turn a profit until at least 2030.
By going public, OpenAI would receive a massive injection of cash from its share sale. This could help alleviate current investor concerns over how the company can come up with the hundreds of billions of dollars it needs to keep expanding in the years before it starts to turn a profit.
When is OpenAI’s IPO date?
As of now, OpenAI has not announced an initial public offering. There are only reports that the company will do so by the end of this year. Whether that 2026 timeframe actually comes to pass remains to be seen.
How much will OpenAI shares cost?
Until OpenAI announces its IPO and how many shares it will offer, it is impossible to know what its IPO share price will be.
How much is OpenAI worth?
As a private company, it’s impossible to put an exact figure on OpenAI’s value. But most analysts currently value the company at around $500 billion, based on the amount of investment it has received so far.
However, the Journal notes that OpenAI is currently in the middle of seeking additional fundraising, perhaps up to $100 billion more. If it achieves this, OpenAI could be valued at around $830 billion.