OpenAI is reportedly preparing for a fourth-quarter IPO as it looks to become the first major AI startup to go public. The move would put the ChatGPT maker ahead of competitors like Anthropic, which is also said to be exploring a listing.
Race to the public markets
According to reports, OpenAI is already in discussions with banks about a potential debut later this year. With its valuation hovering around $500 billion in private markets, an IPO of that scale could rank among the largest tech listings ever.
The timing suggests OpenAI wants to seize momentum while AI remains one of the hottest investment themes on Wall Street.
Massive funding push before listing
Before going public, OpenAI is also said to be lining up a huge private fundraising round that could total around $100 billion. Amazon $AMZN ( ▼ 1.01% ) may provide a large chunk of that, with Nvidia $NVDA ( ▼ 0.72% ) , Microsoft $MSFT ( ▼ 0.74% ) , and SoftBank also reportedly in talks to participate.
Those investments would further tighten OpenAI’s ties with the very companies supplying the chips, cloud infrastructure, and capital needed to power its AI expansion.
High stakes for the AI era
An IPO would give public investors direct exposure to one of the central players in generative AI. But it would also come with intense scrutiny over OpenAI’s costs, competition, and ability to turn massive infrastructure spending into sustainable profits.
If the plan moves forward, OpenAI’s listing could become a defining moment for the next phase of the AI boom and set the pace for other large AI startups eyeing the public markets.