SAN FRANCISCO — OpenAI is weighing whether to delay its planned initial public offering until 2027 as executives seek to preserve a target valuation of as much as $1 trillion amid volatile technology markets, according to people familiar with the company's internal deliberations.
The artificial intelligence company, which has confidentially filed paperwork for a U.S. stock market listing, had previously been preparing for a public debut as early as the second half of 2026. However, advisers have recently presented executives with two options: postpone the offering until 2027 in pursuit of the company's valuation objective or proceed sooner at a lower valuation, according to a New York Times report cited by Reuters.
Chief Executive Officer Sam Altman rejected the prospect of reducing the valuation target, describing any significant cut as unacceptable, according to the report, which cited three people involved in the discussions. Reuters has not independently verified the internal deliberations, and OpenAI has not publicly confirmed a final timetable for its listing.
The reported reassessment comes as public technology stocks have experienced increased volatility, prompting concerns among advisers that investor demand for another large technology flotation could be weaker than previously anticipated. Recent trading performance following several high-profile market debuts has also figured in the discussions, according to people cited in the reports.
OpenAI confirmed earlier in June that it had confidentially submitted documents to the U.S. Securities and Exchange Commission for a proposed IPO, without committing to a launch date. Reuters previously reported that the company was targeting a valuation of up to $1 trillion and that Chief Financial Officer Sarah Friar had told some associates the company was aiming for a 2027 listing.
The company remains one of the world's most closely watched artificial intelligence developers following rapid growth driven by ChatGPT and other generative AI products. Investors have closely monitored its financing plans as competition intensifies across the AI sector and rivals pursue fundraising and potential public listings.
Separately, Reuters reported that the administration of U.S. President Donald Trump had asked OpenAI to stagger the release of its GPT-5.6 model over national security concerns. According to Reuters, the company has moved forward with a limited preview for selected partners while government agencies review customer access during the initial rollout.
OpenAI has not announced a final decision on the timing of its IPO, and no revised public listing schedule has been officially confirmed.
