OpenAI has the potential to become a publicly traded company in 2027, or even earlier, depending on the continuous acceleration of its business performance. This projection was communicated by the company's Chief Financial Officer, Sarah Friar, during a meeting with employees held this Wednesday, the 19th, as reported by CNBC.
According to sources close to the executive's statements, Friar assured that the organization will become a public company in 2027, but stressed that the market entry could happen sooner if business evolution persists. She emphasized that the IPO represents only a milestone and another funding round, stating: 'The IPO is not a finish line; it is a milestone, another funding round.'
Friar mentioned that the company raised US$122 billion (equivalent to R$632 billion) in March, which gives the company significant financial flexibility. Previously, OpenAI had confidentially submitted its prospectus for an Initial Public Offering (IPO) to the Securities and Exchange Commission (SEC), the US capital market regulator, in June, although it has not yet publicly disclosed the debut date on the stock exchange.
OpenAI faces the need to justify a valuation of US$852 billion (R$4.41 trillion) before a possible public offering, and investors are awaiting more in-depth financial details. During Wednesday's meeting, Friar displayed recent indicators, showing that OpenAI's annualized revenue rate grew by 35% in the current quarter, while annualized revenue generated by corporate clients rose by 50%.
Additionally, OpenAI's AI-based productivity and programming tools reached 20 million weekly active users. The company reported to investors that it recorded US$6.7 billion (R$34.7 billion) in revenue in the second quarter, an 18% increase compared to the first three months of the year. The company's annualized revenue rate recently exceeded US$40 billion (R$207.1 billion).
In contrast, Anthropic informed investors that its annualized revenue rate reached US$65 billion (R$336.6 billion) by the end of July, seven times higher than a year prior, and reported preliminary revenue of US$11.5 billion (R$59.6 billion) in the second quarter.
Changes in OpenAI's Leadership
Friar's statements come amid recent changes in OpenAI's senior management, a move that has caused apprehension among some investors. Last week, Denise Dresser, Director of Revenue, left her position after only eight months at the company. Two days earlier, Brad Lightcap, one of the longest-serving executives, announced the end of his eight-year tenure with the company to start new projects.
In July, Fidji Simo, responsible for OpenAI's product sector, also resigned from his executive role to focus on recovering from a chronic condition, taking on a part-time consulting role. Currently, the remaining executives, including Friar, CEO Sam Altman, and President Greg Brockman, need to project stability amidst investor concerns regarding competition, the advancement of open-source or open-weight AI models, and other factors that may impact the market.
Brockman refuted concerns about staff turnover during an interview with CNBC on Monday, the 17th. He argued that such movement is not uncommon, but added that what distinguishes OpenAI is being under greater public scrutiny, causing each departure to be examined distinctly compared to other corporations.