AI“最高潮”时间表来了？报道称OpenAI考虑最早2026年下半年交表，2027年上市，估值1万亿美元

Core Insights - OpenAI is preparing for a potential record-breaking IPO, with a valuation of up to $1 trillion and plans to file as early as the second half of 2026, aiming for a 2027 listing [1] - The company has restructured to reduce its dependency on Microsoft, paving the way for the IPO [1][4] - OpenAI anticipates a significant funding gap, projecting revenues of $13 billion for this year against expected expenditures of $115 billion by 2029 [2] Financial Projections - The initial fundraising target for the IPO is at least $60 billion [1] - OpenAI's revenue for this year is projected at $13 billion, while it expects to consume $115 billion by 2029, indicating a substantial financial shortfall [2] - The restructuring has converted early investors' investments into common equity, removing financial return caps, thus enhancing appeal to public market investors [6] Market Context - The IPO coincides with a surge in AI market interest, exemplified by CoreWeave's recent $23 billion valuation and Nvidia's market cap surpassing $5 trillion [2] - OpenAI's IPO is seen as a critical test for the sustainability of the current AI investment frenzy [2] Strategic Goals - OpenAI has set ambitious internal goals, including having an automated AI research intern by September 2026 and a fully automated AI researcher by March 2028 [3] - The company plans to invest approximately 30 gigawatts of computing power, with total ownership costs projected at $1.4 trillion over the coming years [3] - A long-term vision includes establishing an "AI factory" to produce new computing power at significantly lower costs [3] Organizational Structure - OpenAI has transitioned from a non-profit to a new structure comprising a non-profit foundation and a public benefit corporation, with the foundation initially holding 26% of the corporation's shares [5] - This restructuring is aimed at aligning the interests of the non-profit with the financial success of OpenAI, making it a key stakeholder in the company's future [5]