OpenAI’s CFO Reportedly Wants to Delay the IPO from 2026 to 2027

Key Points:

• OpenAI's CFO Sarah Friar is reportedly advising the company to delay its IPO until 2027, citing concerns about meeting the rigorous reporting standards required of public companies and the need to control spending amid revenue shortfalls.
• OpenAI has missed recent revenue targets, according to anonymous sources cited by the Wall Street Journal, and faces pressure to balance its massive spending on data centers with the need to generate sustainable revenue.
• Banks view the IPO race between OpenAI and its rival Anthropic as winner-take-all, with the first to go public likely to define the emerging AI industry, but internal concerns about OpenAI's financial readiness are causing some to call for caution.
• Despite reports of missed targets, an OpenAI spokesperson claimed the company met its first-quarter revenue goals internally, though these goals differ from those known to investors, and the company has not publicly clarified this discrepancy.
• OpenAI continues to operate under intense scrutiny as it aims to become a dominant force in AI, with recent comparisons made between CFO Friar and other influential women in tech who have managed high-profile companies through challenging transitions.