The Money TrailJune 26, 2026via The Decoder
Altman won't go public for less than $1 trillion, so OpenAI's IPO may slip to 2027
Why it matters
OpenAI's IPO timing is now a market-timing play, not a capability play. Volatile tech markets and weak comparable exits (SpaceX) are pushing the world's most valuable AI company to delay going public until 2027, signaling that valuations may have peaked or that fundamentals don't yet justify mega-cap expectations.
Key signals
- OpenAI IPO may slip to 2027
- Altman targeting $1 trillion+ valuation for IPO
- SoftBank lost 13% in single day
- SpaceX IPO performance cited as cautionary signal
- Advisor recommendation: hold off due to volatile tech markets
The hook
$1 trillion. That's Altman's floor for an OpenAI IPO—and it means the markets aren't ready yet.
Advisors are telling OpenAI to hold off on going public until next year. The triggers: volatile tech markets and SpaceX's weak stock performance after its record IPO. SoftBank, one of OpenAI's biggest backers, lost 13 percent in a single day.