OpenAI 倾向 2027 年 IPO，避免与 SpaceX 等竞争

New York Times: OpenAI is now leaning toward a 2027 IPO because the public market is testing whether AI giants deserve trillion-dollar prices before they prove durable profits.

IMO, SpaceX’s huge IPO and Anthropic’s confidential filing also change the OpenAI story because public-market capital is not infinite, and investors may already be digesting one massive AI-adjacent listing while preparing for another pure AI listing.

OpenAI cannot just ask for $1T in isolation, because every giant IPO competes for the same pool of institutional cash, risk appetite, and patience for loss-making growth stories.

So waiting until 2027 lets OpenAI avoid becoming the third huge test of AI-market depth in the same cycle

nytimes .com/2026/06/25/technology/openai-ipo-artificial-intelligence.html