OpenAI Considers 2027 IPO After Anthropic's Expected Public Debut

What happened

Per Bloomberg (June 26, 2026), OpenAI is leaning toward delaying its IPO to 2027. It had been targeting a fall 2026 listing, but bankers warned of volatility in tech stocks after SpaceX's IPO. OpenAI's leadership expects Anthropic will go public first.

Context and impact

Both companies have filed confidential S-1s. Anthropic targets a Nasdaq listing in October at ~$965B valuation. Sam Altman is pushing for a $1T target, but CFO Sarah Friar is advising to wait until 2027 as the company continues burning cash at a high clip. The delay immediately hit SoftBank, OpenAI's largest backer.

Details

• Delay reflects concerns about investor appetite following SpaceX's volatile post-IPO trading (high $225.64 to intraday low $147.11 in 3 sessions)
• Anthropic targets ~$965B valuation, OpenAI aiming at ~$1T
• Sarah Friar (OpenAI CFO) advises waiting, Altman pushing faster IPO
• Anthropic filed S-1 on June 1, 2026