OpenAI Files for IPO at $852 Billion (and Losing $1.22 Per Dollar)
OpenAI confidentially filed for an IPO on May 22 and announced it publicly on June 8. The valuation: $852 billion. The catch: the company loses $1.22 for every dollar it earns, and internal documents project a $14 billion loss in 2026 with no path to profitability until 2029.This episode breaks down the filing and the math behind it. Revenue is running around $2 billion a month, tripling year over year since 2023. The March funding round closed at $122 billion. Goldman Sachs, Morgan Stanley, and JPMorgan are leading the deal, and Sam Altman is targeting a September listing, which would put…
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