OpenAI May Wait Until Next Year to Go Public
Svmuu News: According to The New York Times, citing three people familiar with internal discussions at OpenAI, the company is leaning toward postponing its IPO until next year. According to the sources, OpenAI had originally planned to go public as early as the third or fourth quarter of this year. The company’s CEO, Sam Altman, had urged financial advisors to find ways to raise the company’s valuation to $1 trillion. However, a series of recent developments has forced OpenAI executives to abandon their initial aggressive plans. Most notably, the performance of Elon Musk’s SpaceX following its IPO this month has drawn significant attention. SpaceX’s stock price has been on a downward trend recently, closing at $153 on Thursday after hitting a high of $202 last week. Global markets have also been volatile in recent weeks, with tech stocks dragging down indices and investors questioning whether AI companies can live up to their lofty promises. According to two people familiar with the matter, OpenAI’s advisors warned the company in communications over the past week that retail investors might not show much enthusiasm for its stock. (Jin Shi)
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