OpenAI Delays IPO

OpenAI is reportedly leaning toward delaying its initial public offering until next year after advisers urged the company to wait out the volatile market conditions.

IPO Plans Shift The ChatGPT maker had initially hired bankers and lawyers to prepare for a third or fourth-quarter listing while CEO Sam Altman pursued a $1 trillion valuation, according to a report by The New York Times on Thursday.

Earlier this month, the company kicked off the IPO process by confidentially filing draft registration paperwork with the SEC.

The Times, citing people familiar with the matter, said advisers have since urged the company to wait until next year, after the volatile post-IPO performance of SpaceX (NASDAQ: SPCX ) and recent weakness across technology stocks.

The advisers had also presented OpenAI with the option of pursuing an earlier listing at a lower valuation, but Altman rejected lowering the company’s $1 trillion target, the report added.

OpenAI did not immediately respond to ’s request for comment.

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That's Economics' Heavy Spending Continues OpenAI had reportedly spent about $3.7 billion during the first quarter of 2026 against revenue of about $5.7 billion, after posting a monthly revenue of about $2 billion.

The company’s net loss widened to about $39 billion in 2025 from roughly $5 billion a year earlier, while its adjusted loss, excluding restructuring charges and other non-cash items, totaled about $8 billion.

OpenAI is also exploring additional revenue streams, including advertising within ChatGPT and e-commerce partnerships with Shopify and Stripe, although those initiatives remain in their early stages.

Competition Intensifies The delay comes as competition in the AI industry intensifies, with Anthropic pursuing its own IPO plans, while Goldman Sachs and Morgan Stanley have assembled separate banking teams to work on potential listings for both companies.

OpenAI said in March that ChatGPT had about 900 million weekly active users and more than 50 million subscribers, while Codex, its advanced AI agent, served over 2 million weekly users after growing fivefold over the prior three months, with usage increasing more than 70% month over month.

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