{"id":19832,"date":"2026-05-10T03:24:04","date_gmt":"2026-05-10T03:24:04","guid":{"rendered":"https:\/\/cryptoted.net\/index.php\/2026\/05\/10\/openai-ipo-targets-late-2026-as-revenue-hits-25bn\/"},"modified":"2026-05-10T03:24:04","modified_gmt":"2026-05-10T03:24:04","slug":"openai-ipo-targets-late-2026-as-revenue-hits-25bn","status":"publish","type":"post","link":"https:\/\/cryptoted.net\/index.php\/2026\/05\/10\/openai-ipo-targets-late-2026-as-revenue-hits-25bn\/","title":{"rendered":"OpenAI IPO targets late 2026 as revenue hits $25bn"},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/media.crypto.news\/2026\/05\/openai.webp\" \/><\/p>\n<div>\n<p class=\"is-style-lead\">OpenAI has crossed $25bn in annualized revenue and is actively preparing its OpenAI IPO for as early as the fourth quarter of 2026.<\/p>\n<div id=\"cn-block-summary-block_d0665036d71cded25e54c42de74c58cb\" class=\"cn-block-summary\">\n<p>\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/p>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>OpenAI crossed $25bn in annualized revenue in February 2026, up from $6bn at the end of 2024, driven by ChatGPT subscriptions and enterprise adoption.<\/li>\n<li>The OpenAI IPO is being prepared with Goldman Sachs, JPMorgan, and Morgan Stanley advising, targeting a potential filing in the second half of 2026.<\/li>\n<li>OpenAI is not yet profitable and projects annual cash burn reaching $57bn by 2027, making public capital access a financial necessity rather than a choice.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>OpenAI has crossed $25bn in annualized revenue and is preparing its OpenAI IPO for as early as late 2026. The milestone was reported by The Information in early March, citing a person familiar with the figures, with Sacra estimating the revenue hit $25bn by the end of February, up from $6bn at the end of 2024. No software company has scaled to this revenue level in a comparable timeframe.<\/p>\n<p>CFO Sarah Friar has told associates the company is targeting a regulatory filing in the second half of 2026, with a potential listing in 2027. Goldman Sachs, JPMorgan, and Morgan Stanley are in discussions about advising the offering. <\/p>\n<p>Friar <a href=\"https:\/\/sacra.com\/research\/openai\/\" target=\"_blank\" rel=\"nofollow\">said<\/a> separately that the company will allocate a portion of its IPO shares to retail investors, calling it \u201cgood hygiene\u201d for a company of its size to act like a public company.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Why the IPO is not optional<\/h2>\n<p>OpenAI\u2019s revenue growth is extraordinary but its economics are not. The company generated $13.1bn in revenue in 2025 and spent approximately $22bn to do it. Annual cash burn is projected to reach $57bn by 2027, and the company does not expect to reach breakeven until 2030. The $122bn raised in March gives OpenAI roughly 18 to 24 months of runway before another major capital event is required. <\/p>\n<p>As crypto.news <a href=\"https:\/\/crypto.news\/openais-new-wall-street-ai-stack-is-coming-for-crypto-next\/\">reported<\/a>, OpenAI is also expanding aggressively into financial services, rolling out tools that connect ChatGPT with institutional data platforms, a move that signals ambitions well beyond consumer subscriptions.<\/p>\n<p>The company\u2019s April 2026 conversion to a public benefit corporation removed the structural barrier to going public that its nonprofit origins had created. Rival Anthropic is simultaneously pursuing its own $50bn raise at a $900bn valuation, creating a potential race to market that could affect OpenAI\u2019s listing window and investor appetite.<\/p>\n<h3 class=\"wp-block-heading\">Market and crypto implications<\/h3>\n<p>Kalshi prediction markets priced the probability of OpenAI announcing an IPO at close to maximum confidence for contracts resolving by early 2026. As crypto.news <a href=\"https:\/\/crypto.news\/anthropics-on-chain-pre-ipo-market-value-jumps-to-1-2-trillion-overtakes-openai-for-the-first-time\/\">tracked<\/a>, on-chain secondary markets are now pricing Anthropic above OpenAI on an implied valuation basis, adding competitive pressure that makes the IPO timeline more urgent. <\/p>\n<p>A $1 trillion listing would be the largest public offering in technology history and would set the benchmark against which every AI company\u2019s private valuation is subsequently judged.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/crypto.news\/openai-ipo-targets-late-2026-as-revenue-hits-25bn\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>OpenAI has crossed $25bn in annualized revenue and is actively preparing its OpenAI IPO for as early as the fourth quarter of 2026. Summary OpenAI crossed $25bn in annualized revenue in February 2026, up from $6bn at the end of 2024, driven by ChatGPT subscriptions and enterprise adoption. The OpenAI IPO is being prepared with [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":19833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[23],"tags":[],"kronos_expire_date":[],"class_list":["post-19832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"_links":{"self":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/19832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/comments?post=19832"}],"version-history":[{"count":0,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/19832\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media\/19833"}],"wp:attachment":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media?parent=19832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/categories?post=19832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/tags?post=19832"},{"taxonomy":"kronos_expire_date","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/kronos_expire_date?post=19832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}