OpenAI delays IPO to 2027 as Altman rejects anything below $1 trillion
Altman turned down advisors' lower-valuation option — calling sub-$1T pricing a nonstarter — and pushed the offering from a 2026 target to 2027, with SpaceX's post-IPO stock slide and stalled ChatGPT growth at 900M users giving advisors cover to agree. SoftBank, whose $65B OpenAI stake had briefly pushed its market cap above Toyota's, fell 13% on the news — a measure of how much conglomerate valuations have stretched on the premise of an on-schedule OpenAI IPO.
Source: the-decoder.com ↗
Altman rejected anything below a trillion as a "nonstarter."
Sam Altman, CEO of OpenAI
Why this matters
- → Altman's $1T valuation demand freezes a major AI company's path to public markets.
- → SoftBank's $65B bet loses 13% in one day as IPO timeline slips.
- → ChatGPT growth stalled at 900M users; profitability still out of reach.
Valuation standoff