OpenAI plans to go public by next year, Chief Financial Officer Sarah Friar told employees on Wednesday.
In June, OpenAI said it had confidentially filed paperwork with the Securities and Exchange Commission for an initial public offering, but it didn’t offer a timeline for the listing.
“We recently submitted a confidential S-1,” the company said in a statement at the time. “We expect it to leak so we’re just announcing it. We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company.”
CNBC first reported on the employee meeting during which Friar said OpenAI “will be a public company in 2027,” adding that it could come sooner.
The Wall Street Journal reported on Tuesday that OpenAI’s revenue had grown to $6.7 billion in the three months ended in June, up from $5.7 billion in the first quarter. The company is unprofitable, it reported.
Its rival Anthropic has more than doubled its revenue to $11.6 billion in the same period and swung to a small operating profit, the Journal reported.
OpenAI declined to comment to Barron’s on the Journal figures. Anthropic didn’t immediately respond to a request for comment.
