Saturday Jun 27
FUNDINGOpenAI

OpenAI May Push Its IPO To 2027

27JUN
RACE OFFFILED FIRSTWAITS 2027

The sprint to list first just reversed. OpenAI is weighing a wait until 2027, per June reports. Its rival already filed. Altman is holding out for a trillion-dollar price.

For months the narrative was a dash to go public. SpaceX debuted in June. Anthropic submitted draft paperwork on the first. Now the ChatGPT maker may push its market debut to 2027.

The holdup is the number. Altman has leaned on bankers for a headline valuation near a trillion. The last private deal valued the company around $730 to $852 billion. Public buyers may balk at that leap.

The pressure order changes. Anthropic now meets the market first. Every margin and customer figure it reveals becomes the yardstick for OpenAI. Loudest in the hype cycle is not first to the bell.

full brief & sources

⚡ Why this matters

  • Reverses the 2026 narrative that OpenAI would lead the AI IPO wave.
  • Puts Anthropic, which already filed, first to face public scrutiny.
  • Signals public markets may balk at trillion-dollar AI valuations.

🔍 What happened

  • June 25 reports say OpenAI is considering delaying its IPO to 2027.
  • It had eyed a Q3 or Q4 2026 debut earlier.
  • Altman is pushing for a near $1 trillion valuation.
  • OpenAI's last private round valued it between $730 and $852 billion.
  • Anthropic filed its draft S-1 on June 1 after a $965 billion round.

💬 Smart takes

  • Reports (June 25): Altman has fiercely pushed advisers to reach a $1 trillion valuation.
  • Skeptic: 'considering a delay' is not a decision, and this could be negotiating leverage, not a real retreat.

🧭 Where this goes

  1. LikelyAnthropic's filed numbers become the benchmark every AI lab is judged against.
  2. PossibleOpenAI raises another huge private round to avoid listing early.
  3. Possibleappetite for AI IPOs cools if early listings trade flat.
  4. Wild CardOpenAI never IPOs at $1T and restructures as something other than a normal public company.

🥄 The Spoon Take

Going public second is not losing. It is letting someone else absorb the first hit. Anthropic now sets the comp for AI lab economics with real disclosed numbers. If those numbers look shaky, every valuation in the field resets. OpenAI gets to watch before it jumps.

🤔 Pushback

A reported 'considering' is cheap, and Altman has reversed course before, so this may be leverage with bankers rather than a real delay.

·Yahoo Finance - IPO delay report·Built In - 2026 IPO watchlist