OpenAI Tilts Toward a 2027 IPO as Altman Refuses to Budge From a $1 Trillion Valuation — and Lets Anthropic List First

PYMNTS·high signal

Reports this week say advisers gave Altman two options after tech-stock volatility (SpaceX's record $1.77T IPO has since slid): wait until 2027 to grow into a $1T valuation, or accept a lower number to list in late 2026 — and Altman flatly rejected any figure under $1T, up from OpenAI's last $730B–$852B round. The backdrop is a disclosed $38.5B net loss on a $34B compute/R&D spend, and it would let ~$1T-valued Anthropic reach public markets first. For builders, it's a live signal on whether the AI-infra spending cycle keeps its current intensity into 2027.