Hyperliquid News Today: OpenAI's $1T IPO: Can AGI Vision Justify the Hype?

OpenAI is preparing for an initial public offering (IPO) that could value the artificial intelligence company at up to $1 trillion, according to a Reuters report, positioning it as one of the largest equity offerings in history. The company is considering filing with securities regulators as early as the second half of 2026, with a potential listing in late 2026 or 2027. In preliminary discussions, OpenAI has targeted raising at least $60 billion, though the figure could rise depending on market conditions and business growth, according to an Investing.com report. Chief Financial Officer Sarah Friar has indicated a 2027 timeline, but advisers suggest an earlier listing is possible.

The IPO plans follow a significant corporate restructuring, with OpenAI converting its for-profit arm into a public benefit corporation (PBC). This structure, overseen by the nonprofit OpenAI Foundation, allows the company to pursue both profit and societal benefit while attracting investor capital. The nonprofit will initially hold a 26% stake in the PBC, with Microsoft securing a 27% stake valued at approximately $135 billion, as explained in a Bloomberg report. Microsoft's agreement grants it exclusive intellectual property rights to OpenAI technology until 2032 and expands its cloud computing partnership with the AI leader, according to Microsoft's announcement. The restructuring aims to balance investor expectations with OpenAI's mission to ensure artificial general intelligence (AGI) benefits humanity, a Bloomberg Law quicktake noted.

An IPO would provide OpenAI with greater flexibility to raise capital for its ambitious AI infrastructure goals. CEO Sam Altman has emphasized the need for trillions of dollars in investment to scale compute capacity, with the company aiming to add 1 gigawatt of computing power per week at reduced costs. OpenAI's current commitments include 30 gigawatts of compute capacity, totaling $1.4 trillion in costs, as it races to meet surging demand for AI tools, according to a PYMNTS report. The IPO could also facilitate larger acquisitions and streamline access to public market funding, critical for sustaining Altman's vision of AGI development, a StockTwits article noted. Market observers highlight the IPO's potential to reshape tech and crypto sectors. Microsoft's expanded role in OpenAI's governance could influence its stock valuation and cloud revenue, while AI-driven demand may boost semiconductor stocks like NVIDIA. In crypto, tokens tied to decentralized AI applications, such as Fetch.ai (FET) and Render Token (RNDR), could see volatility as institutional interest in AI-blockchain hybrids grows, a Blockchain.news post said. OpenAI's restructuring and public market entry also signal a broader shift in how AI companies balance profit and public responsibility, with regulators and investors closely monitoring the PBC model's success, as Bloomberg reported.

Altman has acknowledged the IPO's likelihood, stating it is "the most likely path" given OpenAI's capital needs. The company's nonprofit foundation remains committed to its mission, with the PBC structure allowing it to scale while retaining oversight. "We have a non-profit called OpenAI Foundation that governs a Public Benefit Corporation called OpenAI Group," Altman said in a recent post, underscoring the dual focus on AGI's societal impact and financial sustainability, according to PYMNTS.

The IPO's success will hinge on market appetite for high-risk, high-reward tech bets and OpenAI's ability to deliver on its AGI vision. With a $20 billion annualized revenue run rate and mounting losses, the company faces pressure to justify its valuation through innovation and profitability. As the AI race intensifies, OpenAI's public offering could set a precedent for how frontier technologies are funded and governed in the years to come, Investing.com reported.