OpenAI IPO Delayed: Sam Altman Wary of SpaceX Stock Volatility

OpenAI may delay its initial public offering until next year, or even 2027. This is due to concerns it won't hit CEO Sam Altman's target of a one trillion dollar valuation. The AI startup confidentially filed preliminary paperwork earlier this month, and an IPO was expected this year. Mr. Altman previously called an IPO the "most likely path" for the company. What's interesting is OpenAI reportedly worries about the performance of SpaceX's recent IPO. That company's stock shot up, then tumbled over 20 percent from its peak. This has created doubts among retail investors about tech stock volatility. OpenAI rival Anthropic has also filed to go public. They recently raised 65 billion dollars in private funding, pushing their valuation to 965 billion dollars. The bottom line is that market conditions are impacting these major tech companies' plans for public offerings.