OpenAI CFO Sara Friar confirmed to employees during an all-hands meeting that the artificial intelligence company intends to become a public company in 2027 or potentially sooner. Friar stated that an initial public offering is a milestone rather than a finish line for the organization. The company recently raised $122 billion in March, which she noted provides significant financial flexibility as they navigate their growth strategy.
OpenAI filed its IPO prospectus with regulators confidentially back in June. While the company has not disclosed a specific date for its public debut, internal documents and reports suggest a focus on maintaining its own pace despite competition. Rival firm Anthropic has also filed its own prospectus and may reach the public markets as early as September. Friar emphasized that OpenAI is committed to its own trajectory regardless of when other industry players choose to launch their offerings.
Financially, OpenAI continues to demonstrate growth. During the meeting, executives reported a 35 percent increase in revenue run rate for the current quarter, with enterprise revenue rising by 50 percent. The company's AI tools now reach 20 million weekly active users. Recent reports indicate an annualized revenue run rate surpassing $40 billion, though the company faces investor scrutiny regarding its $852 billion valuation and recent leadership turnover.
Internal management faces pressure to demonstrate stability following the exits of several high-profile executives, including the head of revenue and the chief of product business. Despite these changes, remaining leadership maintains that departures are normal for a company of this profile. The focus remains on expanding enterprise reach and proving long-term value to investors as the firm prepares for its eventual transition into the public sector.