Trillion-dollar valuation hits a "cold shower" with SpaceX's sharp decline: OpenAI IPO delayed to 2027, AI capitalization steps on the brakes

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OpenAI is tending to postpone its IPO plans until 2027, with recent volatility in tech stocks and cooling market sentiment being the main considerations. This means the public market debut of this artificial intelligence giant may be much later than previously expected.

According to the New York Times, citing three people familiar with the matter, bankers advising OpenAI on its IPO warned that recent fluctuations in tech stocks and pressure on SpaceX's stock price after its listing could dampen retail investors' enthusiasm for OpenAI's offering.

Meanwhile, CEO Altman is pressuring advisors, including bankers and lawyers, to set the target valuation at $1 trillion.

The adjustment of this timetable has a direct impact on the market—public market investors who had hoped to participate in OpenAI's listing this year may face a much longer wait. This may also affect expectations for capital flow between primary and secondary markets throughout the AI sector.

Previous Report: Altman Says OpenAI Will IPO Within the Next Year

On June 9th, OpenAI issued a statement confirming that it has secretly submitted an IPO application to the U.S. Securities and Exchange Commission (SEC). According to previous media reports, Altman expects OpenAI to IPO within the next year.

OpenAI is not the only AI giant planning to go public. Its competitor Anthropic is likewise striving to land on Wall Street as soon as possible; both aim to raise funds in the public markets to support high expenditures on chips and data centers.

Anthropic also secretly submitted its IPO application slightly ahead of OpenAI, and is expected to go public as early as October this year. This competitor, once seen as relatively weaker, has significantly boosted its market position this year thanks to the revenue growth of its Claude product line—especially its programming tools.

Earlier this year, OpenAI completed a $122 billion funding round to support its large-scale investment in AI infrastructure. Upon completion, the company’s valuation reached $852 billion.

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