• OpenAI aims to complete its initial public offering by 2027, though strong financial inflection could accelerate the launch. 
• Management urged staff not to worry if competitor Anthropic goes public first, emphasizing that OpenAI is operating on its own timeline. 
• The public roadmap comes alongside recent high-profile leadership exits, including the departures of top revenue and product executives. 

OpenAI Chief Financial Officer Sarah Friar told staff during an internal meeting on Wednesday that the artificial intelligence firm is set to become a public entity by 2027, with the potential to debut even earlier if growth accelerates.

During the session, Friar described an initial public offering not as an ultimate end goal, but as a routine fundraising milestone, citing the company's $122-billion capital raise in March as a source of operational flexibility, CNBC reported.

Navigating Competition And Regulatory Filings

OpenAI confidentially submitted its IPO paperwork to federal regulators in June, keeping specific scheduling details guarded. Meanwhile, rival AI developer Anthropic has submitted its own confidential filing and begun initial discussions with potential investors.

In addresses to employees, leaders directly addressed the possibility of Anthropic going public as soon as September, with Friar urging staff to stay focused on OpenAI's independent strategy rather than competitors' market timing.

“As you know we are confidentially under file, and Anthropic is also under file. There is a chance they pull the cover off that confidential file in the coming weeks and become public in September. That’s OK, we are running our own race,” Friar said, according to CNBC’s report. 

Financial metrics highlight an intense battle for market dominance. OpenAI reported second-quarter revenue of $6.7 billion, representing an 18% increase over the previous quarter, with its annualized revenue run rate topping $40 billion. 

Anthropic, by comparison, recently projected a preliminary second-quarter revenue of $11.5 billion, with its annualized run rate hitting $65 billion.

Reassuring Employees Amid Executive Changes

The public rollout discussion comes amid executive restructuring at the ChatGPT creator. Chief Revenue Officer Denise Dresser stepped down last week after eight months, following the exit of long-time executive Brad Lightcap. Additionally, Fidji Simo departed her role as product business chief in July.

Top executives, including Chief Executive Sam Altman and President Greg Brockman, are focused on stabilizing partner confidence amid shifting market dynamics and low-cost AI alternatives. Brockman addressed the high turnover, noting that OpenAI's intense public profile subjects ordinary corporate transitions to heightened scrutiny.

Retail sentiment on Stocktwits on OpenAI and Anthropic was ‘bearish’ and ‘bullish,’ respectively.

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