IPO Delayed: Sam Altman Says an OpenAI Going Public in 2026 Would Be ‘Ill-Advised’

Sam Altman just pumped the brakes on what was shaping up as one of the largest IPOs in market history, and his reasons go far beyond typical market timing concerns.

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OpenAI is delaying its public offering past 2026. In a September 12 interview with Fortune, Sam Altman said the timing is wrong, the risks are rising, and the industry may soon coordinate to slow itself down.

Altman’s Blunt Verdict on 2026 Timing

Asked directly about an offering that had been shaping up as one of the largest in market history, Altman said “right now would be an ill-advised moment to go public” and confirmed “not 2026” when pressed on timing. OpenAI had spent much of the year exploring a listing that could have valued the company at $1 trillion, before pausing the effort in June.

The delay lands as rival Anthropic plans to go public before the end of the year at a valuation some believe could reach $2.3 trillion. On the Pomp Podcast this week, investor Jordi Visser said “Bitcoin (CRYPTO:BTC) is around a $2 trillion asset. So is SpaceX, Anthropic, and I think OpenAI. That’s $8 trillion of things that none of them make money.”