OpenAI Considers Historic $1 Trillion Stock Market Debut
OpenAI, a global leader in artificial intelligence, is reportedly preparing for a stock market debut that could value the company at up to $1 trillion potentially one of the largest IPOs in history. Reuters reported that the listing may take place in the second half of 2026, depending on market conditions and company readiness.
The company behind ChatGPT aims to raise at least $60 billion to expand its global infrastructure, including major investments in data centers, computing power, and advanced AI research.
Source: Multi
Sam Altman’s Vision for AGI and Expansion
CEO Sam Altman described a public offering as “the most likely path” for OpenAI, noting the enormous capital required to develop artificial general intelligence (AGI).
Altman’s long-term vision involves creating AI systems capable of performing most economically valuable tasks better than humans. He emphasized that the IPO would fund these transformative projects rather than serve as a quick profit-making venture.
OpenAI Restructures for For-Profit Growth
Founded as a nonprofit in 2015, OpenAI has since restructured into a capped-profit company, maintaining nonprofit oversight while enabling institutional investment. The change allows greater access to funding while staying aligned with its mission of developing safe and beneficial AGI.
The reorganization formalized Microsoft’s 27% ownership stake, which valued OpenAI at nearly $500 billion. That partnership helped propel Microsoft’s own market valuation past $4 trillion earlier this month.
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Revenue Growth Amid Operating Losses
Despite soaring demand for its AI tools, OpenAI continues to face steep operating costs. According to The Information, the company generated $4.3 billion in revenue in the first half of 2025 but recorded $7.8 billion in operating losses.
Analysts attribute these losses to the immense costs of training large-scale language models, developing custom hardware, and expanding global infrastructure through partnerships with Microsoft and other providers.
Regulatory and Market Risks Ahead
The prospect of a $1 trillion valuation has reignited debate over a potential AI investment bubble. The Bank of England has warned that inflated expectations for AI could leave technology stocks “particularly exposed” to market corrections.
Financial experts said OpenAI’s IPO could cause market volatility if investors question the sustainability of AI-driven valuations. Still, enthusiasm among both institutional and retail investors remains strong given AI’s transformative potential.
Microsoft’s Role and Strategic Power
Microsoft wields significant influence over OpenAI’s business operations due to their deep integration. OpenAI trains models on Microsoft’s Azure cloud and distributes AI products through tools like Copilot and Office applications.
This relationship makes Microsoft both a key investor and a critical infrastructure provider, blurring the line between partnership and dependency. Analysts expect Microsoft’s share price to benefit from OpenAI’s IPO, driven by higher AI product demand.
What the IPO Could Mean for the AI Industry
If successful, OpenAI’s public listing could redefine the global tech landscape by setting new standards for AI investment and governance. It would also place OpenAI among the world’s most valuable companies, alongside Apple, Amazon, and Google.
For investors, the IPO represents a rare opportunity to back a company at the center of the AI revolution. However, questions remain about OpenAI’s long-term profitability, regulatory challenges, and ethical responsibilities as it moves toward unprecedented scale.
