OpenAI CFO Says IPO Not Under Consideration Despite Investor Interest
OpenAI is not preparing for an initial public offering, according to the company’s chief financial officer. Speaking at the Wall Street Journal’s Tech Live conference on Wednesday, CFO Sarah Friar sai
OpenAI is not preparing for an initial public offering, according to the company’s chief financial officer. Speaking at the Wall Street Journal’s Tech Live conference on Wednesday, CFO Sarah Friar said an IPO is not a current priority.
“We’re not getting ready for an IPO. IPO is not on the cards right now,” Friar said. “We are continuing to get the company into a state of constantly stepping up into the scale we are at, so I don’t want to get wrapped around an IPO axle.”
The comments run counter to growing speculation that OpenAI is moving toward a public listing. Reports from Reuters and the Wall Street Journal in recent weeks suggested the company was laying the groundwork for a potential $1 trillion IPO as soon as next year or possibly by 2027. Reuters reported that Friar had privately suggested that 2027 was a more feasible timeline. An OpenAI spokesperson told the outlet, “An IPO is not our focus, so we could not possibly have set a date. We are building a durable business and advancing our mission so everyone benefits from AGI.”
OpenAI’s current focus appears to be on internal growth and operational maturity. The company recently finalized a restructuring that placed control in the hands of a nonprofit foundation. That governance model, approved by state regulators, is designed to prioritize long-term mission goals over short-term shareholder returns.
Just days before the remarks from Friar, OpenAI announced a $38 billion cloud storage agreement with Amazon Web Services. The long-term deal is among the largest of its kind and underscores the infrastructure needs of large-scale AI operations.
Investor interest in AI-related IPOs remains high. With few publicly traded companies offering direct exposure to generative AI, demand has shifted to existing firms like Nvidia. The chipmaker, which provides hardware critical to AI development, reached a $5 trillion market valuation last week as a result of the ongoing boom.
Still, OpenAI has chosen to steer clear of public markets for the time being. Friar’s comments suggest that leadership remains focused on scaling operations under its unique corporate structure rather than courting Wall Street.
The company has not provided a formal timeline for any future IPO and continues to emphasize its commitment to building a long-term, mission-driven organization.