OpenAI 'will be a public company in 2027' or sooner, CFO Friar tells employees
OpenAI CFO Sarah Friar informed employees that the company plans to go public by 2027, though an earlier debut is possible if business growth continues. The company is currently managing a high valuation and competition from rivals like Anthropic.
Why it matters
As a leader in AI development, OpenAI's transition to a public company will be a major milestone for the technology sector and financial markets.
OpenAI CFO Sarah Friar told employees during an all-hands meeting on Wednesday that the artificial intelligence lab "will be a public company in 2027," but that it could make its public market debut sooner if "our business continues to inflect."
"The IPO is not a finish line, it is a milestone, another fundraise," Friar told employees, according to two sources familiar with her comments who asked to remain anonymous because they were not authorized to speak publicly. "We raised $122 billion in March, and that gives us flexibility."
OpenAI confidentially filed its IPO prospectus with the Securities and Exchange Commission in June, but it has not publicly disclosed when it plans to debut. The company's chief rival, Anthropic, has also confidentially filed its prospectus with regulators, and it's been holding early meetings to test the waters with potential investors, as CNBC previously reported .
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