OpenAI is reportedly racing toward a fourth-quarter 2026 initial public offering that would test just how much faith investors still have in the AI boom.
If OpenAI can successfully deliver an IPO while burning billions and projecting losses through 2030, it’s a sign the AI boom still has room to run. However, if investors balk—if the IPO stumbles or gets repriced—it will signal that the market has finally reached its tolerance threshold for hype over fundamentals.
The war for talent may also be pushing OpenAI toward an early IPO. An imminent public offering could help OpenAI retain employees who might otherwise be tempted to leave; few would want to walk away when their shares are about to vest and become liquid. The prospect of going public could also attract new talent in the pre-IPO period, as incoming employees might receive shares they can sell shortly after the listing.
