OpenAI, the parent company of ChatGPT, is reportedly preparing to go public through an initial public offering (IPO) that could value the company at US$1 trillion (Rp16,631 trillion), anticipated to be the largest IPO in history.

According to Reuters, OpenAI is considering filing IPO documents with market regulators in the second half of 2026, with an official listing potentially following in 2027. However, some internal advisers suggest the IPO could happen sooner ‒ as early as late 2026.

Despite the reports, OpenAI maintains that an IPO is not its current priority. “An IPO is not our focus, so we haven’t set any date,” an OpenAI spokesperson told Reuters on Thursday, October 30, 2025 “We’re focused on building a sustainable business and advancing our mission to ensure that everyone benefits from artificial general intelligence (AGI).”

The IPO discussions come after a major internal restructuring aimed at reducing OpenAI’s dependence on Microsoft. A public listing would allow OpenAI to tap capital markets more efficiently and use its stock for large-scale acquisitions. CEO Sam Altman is reportedly planning to invest trillions of dollars in building global AI infrastructure.

In a live broadcast on Tuesday, October 29, 2025 Altman said, “I think it’s fair to say that this is the most likely path for us, given the capital needs ahead.”

OpenAI’s annual revenue run rate is projected to reach US$20 billion (Rp332.5 trillion) by the end of this year. However, its losses are also mounting as it continues to invest heavily in AI research and infrastructure. The company’s current valuation is estimated at US$500 billion (Rp8,000 trillion).

Founded in 2015 as a nonprofit organization, OpenAI originally focused on developing AI for the benefit of humanity. It later evolved into a hybrid structure, with a nonprofit entity overseeing a for-profit subsidiary.

The most recent restructuring formed the OpenAI Foundation, which now owns 26 percent of OpenAI Group and is entitled to additional shares if certain milestones are achieved ‒ effectively making the foundation a key stakeholder in OpenAI’s financial success.