Artificial intelligence giant OpenAI Group PBC is reportedly laying the ground work for an initial public offering that could value the company at $1 trillion.

Reuters, refering to three people familiar with the matter, said today that OpenAI is considering filing its paperwork to go public with the U.S. Securities and Exchange Commission as soon as the second half of 2026. The report claims that OpenAI would be looking to raise $60 billion at the low end in the IPO, but likely more.

The IPO talks reportedly are in an early stage and plans, including figures and timing, could change depending on business growth and market conditions.

OpenAI Chief Financial Officer Sarah Friar is also claimed to have told some associates the company is aiming for a 2027 listing, but some predict it could come even sooner, around late 2026.

If and when the IPO comes, it will be the biggest IPO in history. The current record for money raised in a single IPO was Saudi Aramco, which raised $25.6 billion in December 2019. The second-highest and the largest tech IPO to date was Alibaba Group Holding Ltd., which raised $26 billion in 2014.

Officially, OpenAI is not outright denying any IPO plans, with a spokesperson telling Reuters that “an IPO is not our focus, so we could not possibly have set a date” and “we are building a durable business and advancing our mission so everyone benefits from AGI.”

The IPO talks come after the company announced a corporate restructure on Tuesday. OpenAI originally launched as a nonprofit in 2015 and formed a for-profit arm four years later. Under the new organizational structure, the nonprofit is now called the OpenAI Foundation and for-profit arm has been restructured as a public benefit corporation called OpenAI Group PBC.

The reorganization was the culmination of a more than year-long effort that drew scrutiny from the attorneys general of California and Delaware. OpenAI had originally planned to remove its for-profit arm from the oversight of its nonprofit parent. The ChatGPT developer skipped that step to secure the approval of the attorneys general.

With the restructure complete, OpenAI now has the ability to go public, but how soon is the question. If it does decide to go public, the listing would open doors for OpenAI when it comes to additional capital raising and the ability to make large acquisitions using its stock.

And if one thing is clear about OpenAI, it’s that it loves new funding. The company has already raised at least $57.9 billion in funding, more than likely the largest amount ever raised by a single tech startup company.

Image: OpenAI