OpenAI Reportedly Eyes Late-2026 IPO Amid Rising Competition and Massive Funding Needs

OpenAI is reportedly accelerating preparations for a potential initial public offering (IPO), with plans to go public by the fourth quarter of 2026, according to a Wall Street Journal report citing people familiar with the matter. The artificial intelligence startup has begun informal discussions with major Wall Street lenders, signaling early groundwork for what could become one of the largest IPOs in history.

The move comes as OpenAI rapidly expands its internal finance team, a step often associated with companies preparing for public markets. Sources indicate that the company’s leadership is motivated in part by intensifying competition in the AI sector, particularly from rival Anthropic, which has also been reported to be exploring a possible IPO in late 2026. Concerns that Anthropic could reach public markets first appear to be pushing OpenAI to move more decisively.

A public listing could significantly strengthen OpenAI’s financial position. The company is currently spending tens of billions of dollars annually to develop, train, and operate its advanced artificial intelligence models, including large language models that require enormous computing power and infrastructure. These high operating costs have made continuous fundraising a strategic necessity.

Recent reports suggest OpenAI is seeking to raise as much as $100 billion from a group of global investors at a valuation of approximately $830 billion, underscoring the scale of its ambitions and the market’s expectations for the AI leader. If an IPO follows at anything close to that valuation, it would rank among the largest public offerings ever recorded.

OpenAI has already attracted substantial backing from some of the world’s most influential technology and investment firms. Major investors include Microsoft, SoftBank, and NVIDIA, all of which have played key roles in supporting the company’s growth and infrastructure. Additionally, OpenAI has reportedly been in discussions with Amazon regarding potential new funding that could reach up to $50 billion.

As competition among AI giants intensifies and capital requirements continue to grow, OpenAI’s reported IPO plans highlight the rapidly evolving financial landscape of the artificial intelligence industry and the race among leading players to secure long-term dominance.