OpenAI leans toward a 2027 IPO as Altman holds firm on $1T
Reports say OpenAI may push its listing to 2027 rather than cut its valuation target, after a soft reception for SpaceX's debut and a broader tech pullback.
#ipo#valuation
Confidential S-1 filed · June 8, 2026
OpenAI is racing toward a $1 trillion IPO.
The maker of ChatGPT is valued at $852B post-money after a $122B round, with an annualized revenue run-rate near $25B and a confidential S-1 already with the SEC. Here's everything an investor needs: valuation, financials, news, and how to get exposure today.
Valuation $852B Mar 2026 post-money
Revenue run-rate $25B annualized, early 2026
Last raise $122B committed, Mar 2026
IPO status S-1 filed confidential, Jun 2026
Figures as of June 27, 2026. OpenAI is private, so these are private-market figures rather than a public share price.
The opportunity
The company that put generative AI in front of the world.
Founded in 2015 by Sam Altman, Greg Brockman, Ilya Sutskever and others, OpenAI builds ChatGPT and the GPT family of frontier models, used by hundreds of millions of people and over a million organizations. Revenue has gone from roughly a $2B run-rate in 2023 to about $25B by early 2026.
- Run-rate revenue up more than 10x in three years
- Backed by Microsoft, Nvidia, Amazon, and SoftBank
- Confidential S-1 filed; a public listing may follow
- 900M+ weekly ChatGPT users across consumer and enterprise
Revenue run-rate trajectory
- FY 2023 $2B
- FY 2024 $6B
- End 2025 $20B
- Feb 2026 $25B
From $300B to $852B in a year.
March 2026
March 2026 round
$852B valuation
$122B raised · led by SoftBank, Andreessen Horowitz
Co-led by SoftBank with a16z, D.E. Shaw Ventures, MGX, TPG, and T. Rowe Price-advised accounts. Strategic partners Amazon ($50B), NVIDIA ($30B), and Microsoft also participated. The largest single private financing on record; at least $35B of the headline figure is contingent.
October 2025
Recapitalization & tender
$500B valuation
Converted the for-profit into OpenAI Group PBC, controlled by the nonprofit OpenAI Foundation (which holds equity worth ~$130B). An employee tender offer let staff sell shares at a ~$500B valuation. Microsoft's stake was aligned to the new PBC structure at roughly 27%.
March 2025
SoftBank-led round
$300B valuation
$40B raised · led by SoftBank
SoftBank led the then-largest private tech round, with participation from Microsoft, Coatue, Altimeter, and Thrive Capital.
For investors
You can't buy OpenAI directly yet.
Until the IPO, exposure comes through public proxies (Microsoft, Nvidia) or accredited-investor secondary markets. We break down every route, the trade-offs, and where to start.
See how to invest Daily updates
All news → Latest OpenAI news
OpenAI Week: xAI Lawsuit Dismissed, India Deal, Crypto Market Folds
A judge tosses xAI's trade secret case against OpenAI, Nykaa brings ChatGPT shopping to India, and a crypto platform offering OpenAI stock trading shuts down.
#legal#partnerships
OpenAI Files Confidential IPO Paperwork With SEC
OpenAI has confidentially filed initial IPO paperwork with the SEC, joining Anthropic in a move toward public markets as investor appetite for AI exposure…
#ipo#sec filing
OpenAI stock, answered.
Is OpenAI publicly traded? Can I buy OpenAI stock?
Not yet. OpenAI is a private company. It confidentially filed a draft S-1 with the SEC on June 8, 2026, an early step toward an IPO, but no shares trade publicly and no ticker, price, or date has been set. Today you can only get exposure indirectly, via public proxies like Microsoft (MSFT) and Nvidia (NVDA), or through accredited-investor secondary markets.
What is OpenAI's valuation?
OpenAI was valued at $852B post-money after its $122 billion round closed on March 31, 2026. That was the largest single private financing on record, though it sits just behind rival Anthropic's later mark.
How much revenue does OpenAI make?
OpenAI's annualized revenue run-rate reached roughly $25B in early 2026, up from about $20B at the end of 2025, driven by ChatGPT subscriptions, enterprise deals, and API usage.
When will OpenAI IPO?
No date has been set. A confidential S-1 was filed June 8, 2026. Reports suggest the listing may slip to 2027 as CEO Sam Altman holds out for a valuation above $1 trillion. Watch for the public S-1, which will reveal audited financials, risk factors, and governance terms.