During the Dublin Tech Summit, Sarah Frier, the Chief Financial Officer of OpenAI, recently revealed that the company's ongoing organizational restructuring is paving the way for a potential initial public offering (IPO). Although OpenAI is actively preparing, whether it can successfully go public still depends on the company’s own readiness as well as the overall sentiment in the capital market.

OpenAI

Source Note: Image generated by AI, provided by Midjourney

Frier mentioned that Microsoft’s investment in OpenAI has exceeded $13 billion, approximately RMB 93.5 billion. Last year, OpenAI announced the transformation of its for-profit business into a "Public Benefit Corporation" (PBC), which aims to balance shareholder returns with social responsibility and differs from traditional non-profit organizations. However, earlier this month, OpenAI adjusted this plan; the non-profit parent company will continue to retain control over the PBC and become the major shareholder, while the for-profit business will continue to raise funds to maintain its competitive edge in the generative AI field.

In discussing the possibility of an IPO, Frier stated that the establishment of the PBC means the company has laid the groundwork for an IPO, but this does not guarantee it will happen. She jokingly said: "Please don't tweet that I just said OpenAI is definitely going public. I didn't. I only said it might happen."

Regarding the conditions required for an IPO, Frier emphasized that the company’s preparation is critical. At the same time, the availability of the market window must also be considered. She pointed out: "Even if the company is well-prepared, without a favorable market environment, all efforts will be futile. Therefore, we must build a resilient company capable of operating safely under different market conditions, regardless of whether the capital market is active or not."

She further noted that becoming a publicly listed company requires a certain level of stability. While markets can tolerate some unexpected factors, especially when the company continues to grow rapidly, they always dislike uncertainty.

In the future, OpenAI will continue to optimize its structure and market strategies to achieve the potential goal of an IPO, but everything must be carefully evaluated in light of changes in the market.

Key Points:

🌟 OpenAI is undergoing organizational restructuring to prepare for a potential IPO, but the timing still depends on market sentiment.  

💰 Microsoft’s investment in OpenAI has exceeded $13 billion, and OpenAI has transformed into a Public Benefit Corporation to balance shareholder returns with social responsibility.  

📈 An IPO requires sufficient company preparation and alignment with the market window; stability is key to attracting investors.