The completion of OpenAI's restructuring allows the ChatGPT developer to pursue an IPO that could take place as early as 2027, sources told The Wall Street Journal. Negotiations are still preliminary, they said, and OpenAI could float shares later in 2027 or not at all.
OpenAI CEO Sam Altman said on Oct. 28 that the company's IPO is likely to happen, but there are no specific plans for the timing.
OpenAI's potential stock offering will be one of the largest in history, WSJ notes. In early October, developer ChatGPT reached a valuation of $500 billion, making it the world's most valuable private company, surpassing Elon Musk's SpaceX.
OpenAI announced the completion of its restructuring on October 28. As a result of this process, OpenAI created a for-profit organization called OpenAI Group PBC (Public Benefit Corporation) with a total value of $500 billion. Microsoft, an early investor in OpenAI, received approximately 27% of the for-profit organization. A slightly smaller stake, 26%, went to the OpenAI Foundation, OpenAI's nonprofit arm, which will control the for-profit organization through its board of directors. The remaining 47% of shares were distributed among former and current employees of the company, as well as other investors.
This article was AI-translated and verified by a human editor
