OpenAI is preparing to start the public offering (IPO) process, according to information from internal sources. It is said that the process may take place in September.

The company is in talks with Goldman Sachs and Morgan Stanley within the scope of preparations for the IPO. OpenAI, which follows market conditions closely, is trying to determine the optimal timing.

IPO process and market expectations

OpenAI is taking this step after the legal fight between CEO Sam Altman and Elon Musk ended in Altman’s favor. The court and the panel rejected Musk’s lawsuit, which targeted the company’s profit-oriented structure.

The company is one of the biggest players in the technology world with a valuation of $730 billion. The fact that Competitors such as SpaceX and Anthropic are preparing to go public increases the competition in the market.

In the official statement from the OpenAI front, it is stated that strategic options are being evaluated regularly. The company emphasizes that their current focus is on operational processes.

Financial statement and future targets

The company’s financial structure stands out with significant expenses despite high revenue growth. OpenAI, which earned $3.7 billion in revenue in 2024, announced a loss of $5 billion in the same period.

Sam Altman plans to invest $600 billion in IT infrastructure by 2030. Experts predict that the company could lose $44 billion by 2028 due to this heavy spending strategy.

Some analysts argue that the company may become profitable in 2029 or 2030. This long-term expectation creates a very interesting timeline for the startup world.

Part of OpenAI’s $730 billion valuation is based on investments from giants such as NVIDIA and Microsoft. This situation brings to the agenda cyclical investment theses due to the company’s interest in NVIDIA, of which it is the largest customer, and its long-term cloud partner Microsoft.

What kind of impact do you think OpenAI’s public offering at such a high valuation will have on the market?