WASHINGTON : Sam Altman, co-founder and CEO of OpenAI, has begun exploring the possibility of an IPO as early as the second half of 2026, setting the stage for one of the largest public listings in history. Sources told Reuters that preliminary discussions have pegged the company’s valuation at between $60 billion on the low end and potentially up to $1 trillion, depending on market conditions.

While the company has not finalized a date, Altman addressed the speculation during a livestream on Tuesday, stating, “I think it’s fair to say it is the most likely path for us, given the capital needs that we’ll have.” However, an OpenAI spokesperson clarified that going public “is not our focus,” adding that no timeline has been confirmed.

Chief Financial Officer Sarah Friar has reportedly discussed a potential 2027 listing, though some advisers believe the process could accelerate to late 2026. The move comes amid booming investor appetite for AI-related stocks, with AI cloud firm CoreWeave going public earlier this year at a $23 billion valuation, and Nvidia recently becoming the world’s first $5 trillion company.

An IPO would mark a major milestone for OpenAI, enabling it to raise funds more efficiently and pursue large-scale acquisitions. It would also give investors like Microsoft, currently holding about 27% of the company, and SoftBank Group Corp. a chance at significant returns.

OpenAI’s annualised revenue run rate is projected to reach about $20 billion by year-end, though rising costs and infrastructure investments are pushing losses higher. The restructuring completed earlier this year has reduced the company’s dependence on Microsoft, paving the way for greater financial independence and public market readiness.