OpenAI's president and co-founder Greg Brockman indicated on Wednesday that the company could be prepared for a public listing by 2027, offering the clearest signal yet of its IPO ambitions as enterprise growth accelerates.
Speaking at a Wall Street Journal tech conference in Napa, California, Brockman expressed confidence in OpenAI's financial trajectory and its ability to compete with rival Anthropic, which is reportedly eyeing a public debut before year-end. When asked if OpenAI would be ready for an initial public offering next year, Brockman replied, "I think so."
Enterprise business drives recovery
Brockman acknowledged that the first half of 2026 was challenging, as Anthropic gained traction in the enterprise market and drew attention for its AI coding products. "Q1 was pretty rough, Q2 was pretty rough. It felt like in many ways we were not even in the conversation," he said, referring to the competitive landscape.
OpenAI's Codex coding tool initially struggled to gain attention, but the company persisted in product development and expanded its business offerings. That strategy paid off in the third quarter, with Brockman reporting a 70% quarter-over-quarter increase in annualized revenue and a surge in enterprise business. "It wasn't an accident but we worked hard on it," he added.
The shift has also transformed OpenAI's revenue mix. Once seen primarily as a consumer-focused company due to ChatGPT, OpenAI now generates the majority of its revenue from enterprise customers, according to Brockman. This pivot is critical as OpenAI competes with Anthropic for corporate clients seeking AI tools for coding, productivity, and other workplace applications.
Funding round falls short of target
OpenAI has secured approximately $11 billion in commitments for its latest funding round, well below its original $30 billion goal, according to a Wall Street Journal report published October 30. The round values the company at roughly $1.25 trillion, lower than the $1.4 trillion valuation it initially sought.
Investor enthusiasm has waned amid concerns about the sustainability of massive AI investments and a broader tech selloff. OpenAI has informed shareholders that it plans to seek additional funding from family offices and high-net-worth individuals, aiming to raise as much as $20 billion in total.
Anthropic competition adds urgency
OpenAI's fundraising and IPO preparations come as Anthropic moves closer to a potential public listing before year-end, with speculation pointing to a November debut. The two AI companies are vying for enterprise customers and investor capital, making revenue growth and commercial adoption key metrics for long-term success.
Brockman's comments suggest that OpenAI's recent enterprise momentum has helped restore its competitive standing after a difficult first half. The company's ability to sustain this growth will be closely watched by investors as it navigates the path to a public offering.
This article is for informational purposes only and does not constitute financial advice.
