OpenAI CEO Sam Altman expects company to go public 'within the next year'

Sam Altman, CEO of OpenAI, the company behind ChatGPT, said he expects the company to go public "within the next year."

Tech publication The Information reported Wednesday that Altman made the remarks in a message to employees this week. "Within that window, various factors could make it happen sooner or later, but by filing the listing application now, we'll have the option to move faster if we want to," Altman said.

He added that the faster OpenAI reaches "recursive self-improvement" — the ability of AI to improve itself without human intervention — the more it may make sense to delay the initial public offering.

Industry sources say employees who hold OpenAI shares are weighing how to manage the sudden windfall an IPO would bring. Apparently with that in mind, Altman also told staff that the company would soon conduct a tender offer allowing employees to sell their shares at $687 per share.

OpenAI filed a confidential IPO application with the US Securities and Exchange Commission on June 8. At the time, the company said in a statement that it had not yet decided on timing and that the process could take time, as there were still things it could more easily accomplish as a private company. It nonetheless signaled that an early listing remained an option, saying it was keeping that door open should it determine that going public sooner was the best course given the complex trade-offs involved.

Some in the industry say the push to list is being driven in part by a crowded IPO calendar this year, with major offerings from SpaceX, Anthropic and others already in the pipeline.