OpenAI’s CFO Predicts IPO in 2027 or Sooner
OpenAI will list on the stock market in 2027, or potentially sooner if its growth trajectory continues, according to Sarah Friar, the company’s Chief Financial Officer. She shared this information during an all-hands meeting, showcasing slides demonstrating the company’s rapid expansion and reassuring staff not to be concerned about Anthropic, which has recently surpassed OpenAI in revenue as its losses increase.
August 20, 2026 – 12:24 pm
Source: MoneyConf, CNBC
OpenAI has set a timeline for its long-awaited initial public offering (IPO), stating that it will become a publicly traded company in 2027. However, Friar noted that the timing could be accelerated if their business continues to grow at its current pace.
"The IPO is not a finish line, it is a milestone, another fundraise," said Friar, alluding to OpenAI’s substantial fundraising efforts, including raising $122 billion in March.
While OpenAI has confidentially submitted listing paperwork with US regulators since June, the company has been tight-lipped about its public debut. Its main competitor, Anthropic, is also preparing for an IPO, potentially as early as September.
OpenAI’s strategic decision to delay its IPO until 2027, aiming for a potentially higher valuation, has now been publicly confirmed by Friar.
Calming Nerves Amidst Competition
Friar attempted to reassure staff about the upcoming changes and potential competition from Anthropic, stating, "We are running our own race." This comes at a critical time for OpenAI, as they face growing competition, shrinking leadership, rising costs, and increased pressure to justify their valuation.
Anthropic recently surpassed OpenAI in both quarterly sales and revenue, achieving its first-ever higher second-quarter revenue than OpenAI and reporting a small operating profit. In contrast, OpenAI’s losses have widened significantly.
Financial Figures and Growth Momentum
Friar presented data emphasizing OpenAI’s momentum, highlighting:
- A 35% year-over-year (QoQ) revenue run rate increase in the current quarter.
- A 50% enterprise run rate increase.
- 20 million weekly users for their AI coding product.
- An annualized revenue run rate exceeding $40 billion, according to separate CNBC reporting.
It’s important to note that a run rate is a projected figure based on recent performance and doesn’t reflect actual booked revenue. Anthropic, in contrast, reported a staggering $65 billion run rate at the end of July, up from seven times its previous year’s figure.
Both companies have relied heavily on run-rate figures to showcase their rapid growth to investors.
However, the picture becomes more nuanced when considering the most recent financial quarter. OpenAI reported $6.7 billion in revenue for Q2 2026, a 18% increase from Q1, but its operating loss widened from $9.3 billion to $12.3 billion during the same period, according to The Wall Street Journal.
By contrast, Anthropic reported approximately $11.6 billion in revenue for Q2 2026, more than doubling its previous figure.