OpenAI is considering delaying its initial public offering (IPO) until next year, the New York Times reported on Thursday, citing three unnamed people involved in the company's deliberations.
The company brought on bankers and lawyers in preparation for a possible public offering as soon as the third or fourth quarter of this year, the report said, noting that CEO Sam Altman pressed those advisers to aim for the startup to be valued at $1 trillion.
OpenAI's advisors, in light of Elon Musk's SpaceX stock sliding since the company's debut and the markets being dragged down by tech stocks, warned the ChatGPT maker over the past week that investor enthusiasm might be limited, the report added. They told the company it could wait until next year to go public with a $1 trillion valuation or lower the figure for a faster IPO. Altman said changing the valuation is a nonstarter, according to the report.
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