This article first appeared on GuruFocus.
OpenAI is considering pushing its public debut to 2027, the New York Times reported, citing people involved in the company’s deliberations. The AI startup has confidentially filed for a U.S. IPO targeting a valuation of up to $1 trillion. Advisers presented executives with two options: wait until 2027 to list at the full $1 trillion valuation, or lower the target for a quicker debut. CEO Sam Altman said any reduction to the trillion-dollar valuation was a non-starter. CFO Sarah Friar has separately told associates the company is aiming for a 2027 listing.
The delay would mark a pivot for what has been billed as one of the three most anticipated IPOs of 2026, alongside SpaceX (NASDAQ:SPCX), which listed on Nasdaq in June raising $85 billion, and Anthropic, which confidentially filed for a U.S. IPO on June 1 at a $965 billion valuation.
In a separate development, the Trump administration asked OpenAI to stagger the release of its latest model, GPT 5.6, over security concerns, according to a source familiar with the matter. Altman told staff the model would launch in a limited preview to select partners, with the government approving access on a customer-by-customer basis during the preview period.