OpenAI CEO Sam Altman stated in September 2026 that a 2026 IPO would be “ill-advised,” citing the need to prioritize AI safety, alignment work, and industry-government coordination on risks before going public, making 2027 the earliest credible timeline per CFO comments from August. The company confidentially filed its S-1 in June but has kept timing flexible to complete strategic moves privately. Traders are monitoring OpenAI’s accelerated $30 billion private round—now targeting roughly $1.25 trillion valuation after investor pushback—closing imminently ahead of rival Anthropic’s expected mid-November listing, which could test market appetite for large AI offerings amid infrastructure spending concerns and volatility. This positions the market-implied odds heavily against any 2026 debut while highlighting 2027 catalysts like funding outcomes and safety progress.