OpenAI evaluates a possible Initial Public Offering (IPO) by 2027 amid the race for AGI

The artificial intelligence industry could be facing the largest financial operation in its recent history. Internal reports leaked at the end of June 2026 reveal that OpenAI's board of directors and key financial advisors are evaluating an Initial Public Offering (IPO) of shares by 2027.

This decision would mark the end of the company's original complex and unusual corporate structure and give way to an ordinary for-profit corporation listed on Wall Street.

The Billionaire Costs of Artificial General Intelligence (AGI)

The main motivation for going public is financial. The race to develop models with cognitive capabilities similar to or superior to humans (the AGI) requires investments on a scale unprecedented in the history of computing:

• Frontier Model Training: Each iteration of large-scale models requires massive clusters of supercomputers operating for months, with electricity and hardware infrastructure costs exceeding billions of dollars per session.
• Massive Inference: Operating services for hundreds of millions of users and autonomous AI agents in real time consumes constant resources that cannot be sustained with conventional subscriptions alone.

Implications for the Governance of Artificial Intelligence

A publicly traded OpenAI would mean that the development of the world's most powerful AI technology would be under the direct supervision of Wall Street shareholders and government financial regulators. This could speed up safety scrutiny of models, but would also increase commercial pressure to bring products to market quickly.

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