OpenAI expects to be ready for an initial public offering in 2027. President Greg Brockman said this on Wednesday at a Wall Street Journal technology conference in Napa, California. According to Brockman, the bulk of the company’s current revenue comes from business customers. OpenAI is strengthening its position in that market, competing with Anthropic, which is expected to go public before the end of the year.
According to Brockman, the bulk of OpenAI’s current revenue comes from business customers. That shift is the result of a strategic effort to capture more of the business market. This is increasingly putting the company in direct competition with rival Anthropic.
A key driver of that growth is Codex, OpenAI’s programming tool. The company is using the tool to attract more business customers. Brockman also wants to integrate Codex further with ChatGPT into a single comprehensive system capable of carrying out tasks independently.
Alongside its growing revenue, OpenAI is working on a new funding round of around $30 billion (approximately €26.7 billion). According to an earlier Reuters report, the deal could lift the company’s valuation above $1.4 trillion (approximately €1.25 trillion).
OpenAI is trying to fast-track the completion of the funding round before rival Anthropic goes public. SoftBank, Abu Dhabi investment fund MGX and other existing investors are among those in talks about participating in the funding round.
The need for funding is also linked to the substantial investments OpenAI plans to make in infrastructure. The company also wants to strengthen its financial position in case its planned 2027 flotation is delayed.
Anthropic is expected to go public before OpenAI. According to Reuters, the company is aiming for a flotation before the end of 2026. Both AI companies are therefore trying to secure investors’ backing before listing on the public stock market.
The competition is playing out not only in technology and business customers, but also in the capital markets. Both companies are seeking very high valuations and trying to convince investors of their growth potential.
Greg Brockman helped found OpenAI in 2015 and currently serves as president. He recently expanded his responsibilities within the company to include oversight of product development.
During The Wall Street Journal’s technology conference, Brockman said he believed OpenAI would be ready for a flotation in 2027. Asked whether the company could actually go public next year, he answered in the affirmative.
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