OpenAI president says IPO possible next year, enterprise sales now majority of revenue

OpenAI co-founder and President Greg Brockman said Wednesday (local time) that he believes the company could be ready for an initial public offering next year.

Speaking at the Wall Street Journal's technology conference in Napa, California, Brockman was asked whether OpenAI would be ready for an IPO next year. "I think so," he said, according to Reuters and the Wall Street Journal.

"We want to go public when the time is right," Brockman said. "We've made a lot of progress this year, and honestly I've never felt more conviction about what we're doing than I do right now."

Brockman said enterprise sales now account for more than half of OpenAI's revenue. He said the company has been expanding its corporate business — including its coding agent Codex — to compete with Anthropic.

He acknowledged that the first and second quarters of this year were "pretty tough," saying OpenAI seemed to be "not even in the conversation" when it came to coding. In the third quarter, however, the company hit a "remarkable revenue inflection point" driven by the launches of new models GPT-5.6 Sol and ChatGPT Work.

OpenAI filed IPO paperwork in June but pushed back its listing target to next year, and a recent funding round raised less than half of its $30 billion goal, the Wall Street Journal reported.