OpenAI Targets 2027 IPO While Monitoring Anthropic’s Market Moves

OpenAI’s chief financial officer, Sarah Friar, announced at an internal all-hands meeting that the company plans to become a public company in 2027, with the possibility of an earlier debut if growth “continues to inflect.” The statement was made on a Wednesday and was reported by multiple outlets. OpenAI has already filed a confidential registration statement with the U.S. Securities and Exchange Commission, as has its rival Anthropic, which may reveal its filing as early as September.

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Founded as a nonprofit research lab in 2015, OpenAI created a capped-profit subsidiary in 2019 to attract large-scale venture capital. The shift enabled the firm to raise billions, positioning it for a future public offering.

OpenAI targets 2027 IPO as CFO reassures staff on Anthropic race

• OpenAI reported $6.7 billion in second-quarter revenue, an 18 % increase from the first quarter, according to a Wall Street Journal report.

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• The company’s quarterly revenue run rate is up 35 % overall and 50 % for enterprise customers, with AI coding and work-product tools reaching 20 million weekly active users.

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• OpenAI’s annualized revenue run rate recently surpassed $40 billion.

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• Anthropic disclosed an annualized revenue run rate of $65 billion at the end of July, a seven-fold rise from the previous year, as reported by CNBC.

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• OpenAI’s latest fundraising round raised $122 billion in March, giving the firm flexibility ahead of the IPO.

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Friar emphasized that the upcoming IPO is “a milestone, another fundraise,” framing it as part of a broader capital-raising strategy rather than an endpoint. She reassured staff that Anthropic’s potential September filing would not alter OpenAI’s timeline, noting that both companies are “confidentially under file” and that OpenAI will “run our own race.” The CFO’s comments aim to calm internal anxiety while underscoring the firm’s confidence in its growth trajectory.

OpenAI targets 2027 IPO as CFO reassures staff on Anthropic race

• “The IPO is not a finish line, it is a milestone, another fundraise,” — Sarah Friar, openai CFO

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• “As you know we are confidentially under file, and Anthropic is also under file. There is a chance they pull the cover off that confidential file in the coming weeks and become public in September. That's OK, we are running our own race,” — Sarah Friar, openai CFO

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