# OpenAI confidentially files S-1 targeting Q4 2026 IPO at $852B-$1T valuation

> OpenAI is racing toward the public markets too, and its filing lays bare both the scale of its business and the depth of its losses. The company confidentially filed an S-1 on May 22, targeting a listing as soon as the fourth quarter of 2026 at a valuation somewhere between $852 billion and $1 trillion, with Goldman Sachs, Morgan Stanley and JPMorgan leading the deal. The revenue figures are enormous: roughly $2 billion a month, or about $24 billion annualized. But so is the burn. OpenAI is reportedly losing about $1.22 for every dollar it earns, driven by staggering compute costs, and does not expect to turn a profit until around 2030. That tension is the whole story of frontier AI in miniature. Demand is real and growing fast, yet the cost of training and serving these models is so high that even a category leader is deeply unprofitable. Public investors will soon get to decide how much that future is worth.

_Section: [Daily AI Updates](https://www.wortins.com/daily-ai) · Source: Yahoo Finance · Published Sunday, July 12, 2026_

## Wortins' read

OpenAI is racing toward the public markets too, and its filing lays bare both the scale of its business and the depth of its losses. The company confidentially filed an S-1 on May 22, targeting a listing as soon as the fourth quarter of 2026 at a valuation somewhere between $852 billion and $1 trillion, with Goldman Sachs, Morgan Stanley and JPMorgan leading the deal. The revenue figures are enormous: roughly $2 billion a month, or about $24 billion annualized. But so is the burn. OpenAI is reportedly losing about $1.22 for every dollar it earns, driven by staggering compute costs, and does not expect to turn a profit until around 2030. That tension is the whole story of frontier AI in miniature. Demand is real and growing fast, yet the cost of training and serving these models is so high that even a category leader is deeply unprofitable. Public investors will soon get to decide how much that future is worth.

## Source

[Read the full story at Yahoo Finance](https://finance.yahoo.com/articles/openai-says-making-2-billion-132500739.html)

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