OpenAI leaning towards delaying IPO to next year, SpaceX stock pullback causes shift in stance

CoinFeed June 26 news, according to The New York Times, OpenAI is leaning towards delaying its IPO to next year, although the company has hired bankers and lawyers to prepare for a listing as early as the third or fourth quarter of this year. Three people involved in the company's discussions revealed that CEO Sam Altman is pushing the advisory team to find a path to a $1 trillion valuation, higher than the company's last private financing round valuation of $730 billion. However, several recent factors have caused a shift in OpenAI's stance: after SpaceX's IPO this month, its stock price fell from a high of $202 last week to $153 at Thursday's close; global tech stock volatility has intensified; and investors have doubts about whether AI companies can meet high expectations. Two people familiar with the matter said that in discussions with the company over the past week, OpenAI's advisory team has cautioned that retail investors may lack sufficient enthusiasm for OpenAI shares.