The ChatGPT maker has reportedly outlined a potential IPO timeline and is preparing to launch a new AI model that could mark a significant upgrade over GPT-5.5.
- OpenAI has already submitted its IPO documents with the Securities and Exchange Commission (SEC).
- Rapid progress toward recursive self-improving AI could lead the company to delay a public listing.
- A new AI model, codenamed 5.6, is reportedly set to launch this month as a significant upgrade over GPT-5.5.
OpenAI CEO Sam Altman has reportedly told employees that the company could enter the public markets within the next year, while also signaling that a new artificial intelligence model is nearing release.
OpenAI Targets Public Markets Within A Year
Altman told employees in a Slack message that he expects OpenAI to go public “within the next year,” reported The Information, adding that the timeline though remains flexible. He told employees that several factors could either accelerate or delay the process, adding that filing now gives the company the flexibility to move sooner if it chooses.
The message came around the same time OpenAI disclosed in a blog post that it had submitted paperwork for an initial public offering (IPO) with the Securities and Exchange Commission (SEC). Initially, the ChatGPT maker had been targeting an IPO as early as September.
The latest IPO timeline follows an earlier report that OpenAI was in discussions with several Wall Street banks regarding its planned public offering. Bloomberg, citing people familiar with the matter, reported that the company had held talks with Citigroup and JPMorgan Chase & Co., which could join Goldman Sachs and Morgan Stanley in helping prepare the listing.
AI Progress Could Influence IPO Timing
While speculation has grown that OpenAI and rival Anthropic could pursue public listings at valuations approaching $1 trillion, Altman reportedly struck a more measured tone in his comments to staff.
He said the pace of the company’s technological development could affect when an IPO takes place. Specifically, Altman pointed to the possibility of recursive self-improvement (RSI), a scenario in which AI systems become capable of creating new AI systems.
“The faster the potential RSI takeoff looks like it could be, the more it could be advantageous to delay an IPO,” said Altman, according to The Information.
According to Altman, rapid advances in the technology could lead to unexpected changes, creating circumstances where staying private may be preferable.
Capital Needs May Push Faster Listing
At the same time, Altman reportedly acknowledged that OpenAI’s growing infrastructure and computing needs could push the company toward a faster IPO timeline. According to The Information, OpenAI is in discussions to lease a proposed 10-gigawatt data center campus on federal land in Ohio, a project that could require substantial financial backing from Nvidia
Altman also told employees that OpenAI is preparing a tender offer “very soon” using the current share price. Employees familiar with the matter said that the price is $687.69 per share.
New Model ‘5.6’ Expected This Month
Separately, OpenAI is preparing to launch a new AI model, codenamed 5.6, according to internal communications. Chief Scientist Jakub Pachocki reportedly told staff that the model will represent a “meaningful improvement” over GPT-5.5, the company’s current flagship system. The model is expected to be released this month, reported The Information.
OpenAI Retail View
Retail sentiment on Stocktwits for OpenAI was “extremely bullish,” at the time of writing on Wednesday.
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