During a recent all-hands meeting, OpenAI's CFO, Sarah Friar, informed employees that the organization aims to go public by 2027, although an earlier market entry could occur depending on the company's growth trajectory. She emphasized that an initial public offering (IPO) should be viewed not as an endpoint but as a significant milestone that would enable further fundraising.
With a remarkable $122 billion raised in March, Friar expressed confidence about the flexibility this capital provides the company.
OpenAI submitted its IPO prospectus to the Securities and Exchange Commission in June under confidentiality, though it has not yet announced a specific launch date. Competing company Anthropic also filed its prospectus quietly and has initiated discussions with potential investors to gauge interest.
Friar reassured staff not to be concerned if Anthropic were to go public before OpenAI. "We are in our own lane, and although there's a possibility they might reveal their confidential filing soon and debut as early as September, our focus remains on our own progress," she stated.
As the company prepares for its IPO, it faces the challenge of justifying its substantial valuation of $852 billion to investors who are keen to understand its financial health. During the meeting, Friar shared impressive metrics indicating a 35% increase in OpenAI's revenue run rate quarter to date, along with a 50% rise in its enterprise revenue run rate. Additionally, the company noted that its AI coding platform has attracted 20 million weekly active users.
According to a recent Wall Street Journal report, OpenAI generated $6.7 billion in revenue during the second quarter, reflecting an 18% increase from the previous quarter, while its annualized revenue run rate has surpassed $40 billion.
On the other hand, Anthropic recently informed investors that it achieved an annualized revenue run rate of $65 billion by the end of July—an impressive sevenfold increase from the same period last year. The company also reported an estimated $11.5 billion in revenue for the second quarter.

