As the tech mega-IPO race heats up, has OpenAI missed its moment?

• 01Sam Altman predicted 12 months ago that OpenAI would build a super intelligence and fundamentally remake society; he is now walking back those ideas.
• 02OpenAI failed to monetize ChatGPT through advertisements and erotic chatbots.
• 03Elon Musk's SpaceX, which owns xAI, is going to float this month.
• 04Anthropic confidentially filed for an IPO on Monday.
• 05Alphabet is raising $80 billion to fund AI infrastructure buildout, described by analysts as the largest equity fundraising ever.
• 06The Information reports that OpenAI made revenue of $5.7 billion in the first quarter of 2026, with adjusted negative margins of -122%.
• 07OpenAI was valued at $852 billion at its last funding round.
• 08At an event in Australia earlier this month, Sam Altman said he did not expect a 'jobs apocalypse,' contrasting with his statement a year ago that people would 'find new things to do, new ways to be useful to each other' following AI-related social change.
• 09Sarah Friar, OpenAI's chief financial officer, has reportedly expressed doubts that OpenAI is ready to go public this year and reservations about whether it can cover its computing costs.

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OpenAI, once considered AI's leading company, faces pressure to go public as rivals pursue record-setting IPOs, including Anthropic's confidential filing and Alphabet's $80 billion fundraising round. The ChatGPT developer has abandoned strategies to monetize its platform through ads and erotic chatbots and reported losing $1.22 for every dollar spent in the first quarter of 2026, raising questions about whether it can sustain operations despite its $852 billion valuation. Sam Altman has shifted his public messaging on AI's impact, now downplaying job losses rather than discussing massive societal transformation.