OpenAI has not yet held a pre-IPO meeting to discuss potential price or demand, nor has it outlined a formal timeline for going public, according to people familiar with the company’s plans.
The people, who requested anonymity because the details are private, said that once the artificial intelligence company has better timing, it is likely to begin meeting with investors to test its capabilities.
OpenAI said it secretly filed a prospectus with the Securities and Exchange Commission earlier this month, a promising sign for investors looking to dive into AI. But the company has repeatedly sought to temper expectations about when it will hit the public market, writing in a post to X that “it may take a while.”
The New York Times reported Thursday that OpenAI is leaning toward an IPO in 2027. The company did not immediately respond to CNBC’s request for comment.
Speculation about OpenAI’s plans emerged following comments from Elon Musk. space x His historic debut earlier this month made him the world’s first millionaire. After a volatile first two weeks, the stock was essentially flat in intraday trading on Friday.
OpenAI’s biggest rival, Anthropic, has also confidentially filed a prospectus with regulators, but has not disclosed a formal timeline.
OpenAI CEO Sam Altman told CNBC earlier this month that the company would pursue an IPO when it makes sense.
“I think there’s a race to deliver the best technology and build the best business, but as you know, an initial public offering is a fundraising event, and I don’t think we’re focused on the timing,” Altman said.
— CNBC’s David Faber contributed to this report.
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