OpenAI's shift to a public benefit corporation structure late last year cleared key hurdles for an IPO, enabling larger capital raises amid surging compute demands projected at $50 billion this year alone. CEO Sam Altman has pushed for a potential late-2026 listing to fund infrastructure and maintain competitive edge against rivals like Anthropic, while CFO Sarah Friar has advocated delaying to 2027 to stabilize finances and hit internal revenue targets. Recent reports highlight ongoing talks with banks and plans to reserve shares for retail investors, though shortfalls in user growth and profitability add uncertainty to the timeline. Traders are closely watching any updates on filing preparations or new funding rounds that could clarify whether an accelerated 2026 debut or more measured 2027 path prevails.