OpenAI likely to delay IPO until next year

OpenAI is leaning toward delaying its IPO until next year, according to people who spoke with the New York Times.

The ChatGPT maker had been targeting a listing as early as the third or fourth quarter of this year, with CEO Sam Altman reportedly pushing advisers to pursue a $1 trillion valuation. Its most recent valuation was $730 billion, sources told the NYT.

Those ambitions have cooled in recent weeks. Executives are closely watching the rocky post-IPO performance of SpaceX, whose shares have fallen sharply after debuting at a $1.77 trillion valuation despite raising a record $85 billion.