OpenAI, the artificial intelligence company behind ChatGPT, is reportedly preparing for one of the biggest public listings in history, with a projected valuation of about $1 trillion. The company could begin the filing process with U.S. securities regulators by the second half of 2026, targeting a public listing in 2027.
According to the AI company, OpenAI expects to raise at least $60 billion from the offering, though that figure may increase as investor interest continues to grow. The move comes after a major corporate restructuring earlier this year that allowed OpenAI to operate as a for-profit public benefit corporation. This transition gives the company more flexibility to attract capital while maintaining its mission to advance safe and beneficial AI development.
Microsoft, which currently holds about 27 percent of OpenAI after investing $13 billion, is expected to remain a key partner but will no longer be the company’s primary financial lifeline. CEO Sam Altman has indicated that a public listing is likely the next logical step to fund OpenAI’s large-scale ambitions, including multi-trillion-dollar investments in AI infrastructure and data centers worldwide.
Financially, OpenAI has seen rapid revenue growth, with projections showing annual earnings could reach $20 billion by the end of 2025. However, the company continues to operate at a loss due to heavy spending on research, cloud resources, and global AI infrastructure. Analysts believe the initial public offering (IPO) would not only provide the capital needed to sustain this growth but also position OpenAI alongside the world’s biggest tech giants such as Apple, Microsoft, Nvidia, and Alphabet.
If successful, the offering could become one of the largest IPOs in U.S. history, marking a defining moment for the artificial intelligence industry. It would also signal OpenAI’s evolution from a nonprofit research lab founded in 2015 into a trillion-dollar technology powerhouse shaping the global AI ecosystem.
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