OpenAI is reportedly preparing for a significant IPO, potentially valuing the company at up to $1 trillion. According to a Reuters report, the AI startup may file with regulators by the latter half of 2024, aiming to raise at least $60 billion. Chief Financial Officer Sarah Friar indicated a target for a 2027 listing, although some advisors suggest it could occur as early as late 2026. An OpenAI spokesperson stated that the IPO is not a primary focus, emphasizing the company’s commitment to building a sustainable business around artificial general intelligence (AGI). The urgency for an IPO stems from recent restructuring to reduce reliance on Microsoft and address rising losses, with projected annual revenues hitting $20 billion by year’s end. Additionally, CEO Sam Altman outlined plans for an AI factory to enhance compute capacity, aiming for cost reductions. OpenAI is also navigating ongoing debates around emerging AI browsers, following the launch of its new product, Atlas.
Source link
Share
Read more