OpenAI IPO Delay: Market Cools, Valuation Concerns

OpenAI, the developer behind ChatGPT, is reportedly considering delaying its initial public offering until next year. The company had initially aimed for a listing in the third or fourth quarter of this year. What's happening is a cooling market atmosphere, especially after SpaceX's recent listing. SpaceX saw its stock price drop around 20% post-listing, suggesting investor sentiment for future growth industries like AI and space might not be as strong. Reports indicate that an advisory group told OpenAI it might be better not to rush the IPO. They suggested a plan to list this year with a slightly lower corporate value, or wait until 2027 for a trillion-dollar valuation. However, CEO Altman is reportedly firm on not accepting a listing with an enterprise value below one trillion dollars. OpenAI's current unlisted corporate value is $852 billion. Another factor is OpenAI's performance. While aiming to triple annual sales to $2 billion this year, monthly sales are at $2 billion. User numbers are also somewhat modest, at 900 million, not yet exceeding one billion weekly active users as expected. Regulatory risk is also emerging. The U.S. government recently asked OpenAI to provide its next-generation model, GPT-5.6, to government-approved partners first, rather than.