"Keeping to the company's putative mission of building an all-powerful "artificial general intelligence" for the benefit of humankind - an alibi that's becoming less and less credible with each passing week - an OpenAI spokesperson claimed that going public isn't its main priority. "An IPO is not our focus, so we could not possibly have set a date," the spokesperson told Reuters. "We are building a durable business and advancing our mission so everyone benefits from AGI.""
"OpenAI completed the restructuring of its for-profit arm into a public benefit corporation earlier this week, bringing to an end a year-and-a-half saga marked by legal disputes with cofounder Elon Musk, who left the company in 2018 and has feuded with Altman ever since, and strained negotiations with Microsoft, which owns a large stake in OpenAI and has been its most important benefactor."
OpenAI completed restructuring its for-profit arm into a public benefit corporation and is preparing plans to become publicly traded. Sources say the company is considering filing with securities regulators as soon as the second half of 2026 and aims to be listed by 2027. The offering could push OpenAI's valuation to as high as $1 trillion, potentially creating one of the largest IPOs ever. Company spokespeople emphasize that an IPO is not the current focus and reiterate commitments to building a durable business and advancing AGI for broad benefit. The restructuring followed legal disputes and major negotiations with investors such as Microsoft.
Read at Futurism
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