OpenAI CFO Tells Staff Company to Go Public by 2027

OpenAI's Chief Financial Officer, Sarah Friar, has informed employees that the artificial intelligence company aims to be publicly listed by 2027. She indicated that an earlier debut on public markets is possible if business conditions remain favorable. Friar described the initial public offering (IPO) not as an endpoint but as a milestone and another form of financing.

The company secured $122 billion in funding in March, providing substantial operational runway. OpenAI has confidentially filed its IPO registration with the U.S. Securities and Exchange Commission (SEC) in June, though a specific timeline has not been revealed. Rival AI firm Anthropic has also filed confidentially and is reportedly gauging market interest.

Friar reassured staff that Anthropic's potential earlier listing should not be a cause for concern, emphasizing that OpenAI will proceed at its own pace. The company faces pressure to justify its $852 billion valuation, with investors seeking greater clarity on its financial standing.

Recent financial disclosures showed OpenAI's annualized revenue growth of 35% for the current quarter, with its enterprise business up 50%. Its AI coding and productivity products have surpassed 20 million weekly active users.

The company has recently experienced executive departures, including its head of revenue and a long-serving senior executive. These changes have raised concerns about potential leadership instability, while OpenAI executives aim to project confidence amid heightened competition and market volatility experienced by other tech IPOs.