OpenAI is not working on an IPO yet, CFO says

Core Insights - OpenAI's Chief Financial Officer Sarah Friar stated that an initial public offering (IPO) is not currently planned for the company, emphasizing a focus on scaling operations instead [1] - Recent reports indicated that OpenAI was preparing for an IPO that could value the company at up to $1 trillion, with a potential listing aimed for 2026 or 2027 [2] - The company recently underwent a significant restructuring, converting its for-profit arm into a public benefit corporation, which was part of a deal with Microsoft that valued OpenAI at approximately $500 billion [3] Company Structure and Strategy - The restructuring allows OpenAI greater operational freedom while maintaining control under its nonprofit parent, the OpenAI Foundation, which holds a 26% stake and has warrants for additional shares based on performance milestones [4] - OpenAI has increased its investment in data centers, entering into multibillion-dollar agreements with major tech companies like Google and Amazon [5] Financial Support and Ecosystem - The company is actively seeking U.S. government support to secure financing for AI chips, which have unpredictable depreciation rates, making debt financing expensive [5] - Friar mentioned the need for an ecosystem involving banks, private equity, and potentially government support to lower financing costs and improve loan-to-value ratios [6]