THE CRUNCH
OpenAI co-founder and president Greg Brockman said the company would be ready for an initial public offering in 2027. Asked at a Wall Street Journal tech conference whether OpenAI would be IPO-ready next year, he replied, "I think so. Yes."
Brockman said OpenAI wants to go public "when we feel is the right time for us" and that he has "honestly never felt more confident in what we're doing." His confidence rests largely on the enterprise business, which he said has doubled and now accounts for the majority of OpenAI's revenue, up from around 30% previously. Consumer revenue is still growing, he noted, but enterprise has "really taken off," with a recent partnership with JPMorgan Chase cited as an example.
The turnaround was far from smooth. Brockman described the first two quarters of 2026 as "pretty rough" and admitted OpenAI "wasn't even in the conversation" in agentic coding, where Anthropic's Claude Code had gained market share. "We had Codex, but no one was talking about it," he said. By the third quarter, annualized revenue grew 70% quarter on quarter, which he attributed to the enterprise side and to earlier investments rather than anything that happened in the quarter itself.
He added that a year ago OpenAI was perceived as a consumer company, with prospective clients questioning its commitment to the enterprise, but that "it's so different today."