Shares in Japanese technology investment giant SoftBank Group fell sharply on Friday after a report suggested that OpenAI is considering postponing its long-anticipated initial public offering (IPO) until 2027, delaying what could have been a significant liquidity event for its investors.
According to a report by The New York Times, OpenAI’s advisers have encouraged Chief Executive Sam Altman to adopt a cautious approach to taking the artificial intelligence company public. The recommendation follows recent market volatility, the performance of other high-profile technology firms and ongoing financial pressures facing the ChatGPT developer.
SoftBank, one of OpenAI’s largest investors through its participation in the company’s funding rounds and artificial intelligence infrastructure initiatives, saw its Tokyo-listed shares tumble 11.3 per cent to 6,317 yen (approximately $39) by 01:06 GMT as investors reacted to the report.
OpenAI had reportedly explored launching an IPO as early as the third or fourth quarter of 2026, targeting a valuation of up to US$1 trillion. Such a valuation would represent a substantial increase from the company’s most recent private valuation of approximately US$730 billion.
However, advisers are said to have warned that uncertain equity market conditions and growing investor scrutiny over whether AI companies can sustain their lofty valuations could weaken demand for a public offering.
Rather than proceeding with an IPO at a reduced valuation, OpenAI executives are now reportedly weighing the option of waiting until 2027 in the hope of achieving their US$1 trillion target once market conditions improve.
The prospect of a delayed listing has raised concerns among investors, particularly those with significant exposure to OpenAI, as it pushes back the timeline for potential returns on their investments.
Neither OpenAI nor SoftBank had publicly commented on the report at the time of writing.
