AI giant OpenAI is preparing to file for an IPO in the coming weeks, adding to the long list of behemoth AI firms that are waiting to list this year.
The ChatGPT maker was last valued at $852 billion, however separate market reports say that the firm could have a much bigger valuation. In October, Reuters reported that the Sam Altman-led business was preparing to go public in an offering that may be valued at as much as $1 trillion, with early conversations aiming to raise at least $60 billion.
Interestingly, the rumours around the alleged IPO come just days after the AI giant and its founder Altman won a court case against Elon Musk. OpenAI’s IPO plans also threaten SpaceX’s IPO, possibly trickling upstaging worries among investors.
However, both OpenAI and SpaceX’s plans to go public come at a time when the artificial intelligence boom has taken the market, with mega-cap private labs are racing to list amid massive revenue growth and equally staggering capital burn.
OpenAI raised $122 million previously
Generative AI has gained wide acceptance, thanks to companies such as OpenAI with their immensely popular product like ChatGPT. This year, OpenAI is reported to have secured about $122 billion worth of funding for the firm, making it the largest amount of capital ever raised by any company in the Silicon Valley region.
However, due to stiff competition from other companies in the market, OpenAI has faced some setbacks. The company has had to change its approach to products twice over the span of a few months due to growing competition from Google and later Anthropic.
Anthropic has been making strides, especially in the realm of enterprise AI, where firms have begun using AI systems for their office-related activities.
Some industry watchers now believe Anthropic’s revenue growth could eventually outpace OpenAI’s, showing how quickly competition in the AI sector is evolving.
OpenAI IPO could upstage SpaceX
OpenAI’s popularity has already put pressure on other generative AI firms. However, the IPO now holds a larger power that can overshadow Musk’s SpaceX IPO.
Interestingly, the SpaceX IPO is also linked to Musk’s generative AI platform xAI. Elon Musk merged xAI into SpaceX in February 2026 through an all-stock deal, making the AI startup a fully owned subsidiary of SpaceX.
Rather than using cash, the transaction was completed using company shares. The deal created a combined entity valued at roughly $1.25 trillion, with SpaceX estimated at around $1 trillion and xAI at about $250 billion.
The merger effectively brought Musk’s AI ambitions directly into the broader SpaceX ecosystem, tying together AI development with the company’s expanding infrastructure, computing power and satellite operations.
It also further positioned Musk as a major competitor in the rapidly intensifying AI race alongside companies like OpenAI and Anthropic.
Now, OpenAI’s public listing has the potential to put all of Musk’s efforts down the drain.
Altman wins big victory against Musk
OpenAI’s IPO timing remains quite peculiar, given that the firm has just won a massive case against Elon Musk.
As The Coin Headlines reported earlier, Elon Musk’s lawsuit against OpenAI and Sam Altman was unsuccessful, and the tech giant’s accusations against other giants, such as Microsoft’s role in the company, were denied.
A federal jury dismissed Elon Musk’s lawsuit against OpenAI and its CEO Sam Altman on Monday. The lawsuit claimed that the AI behemoth had strayed from its initial goal of being a non-profit.
The founders of OpenAI also pushed back against Elon Musk’s allegations, framing the dispute as increasingly tied to competitive tensions in the AI sector.
Following Musk’s launch of xAI, OpenAI’s leadership argued that his legal actions reflected a shift from former ally to direct industry rival.
The jurors believed that Musk’s action against OpenAI CEO Sam Altman and others was brought too late. In the end, the federal court dismissed the lawsuit alleging Altman had illegally benefited from the company he and Musk co-founded.
