Sam Altman, CEO of OpenAI, has expressed ambivalence about taking his artificial intelligence company public, revealing that while he sees benefits to an IPO, he has “0%” excitement about becoming a public company CEO. Speaking on the “Big Technology Podcast” published Thursday, Altman acknowledged the trade-offs between remaining private and accessing public markets.
“Am I excited for OpenAI to be a public company? In some ways, I am, and in some ways I think it’d be really annoying,” Altman stated, highlighting the complexities of leading one of the world’s most valuable AI companies through a potential transition to public ownership. His primary concern appears to be the additional scrutiny and responsibilities that come with public company leadership.
Despite his personal reservations, Altman acknowledged the practical realities driving OpenAI toward an eventual IPO. “It’s wonderful to be a private company,” he said, but noted that OpenAI needs substantial capital and will inevitably “cross all of the shareholder limits and stuff at some point.” He did express appreciation for one aspect of going public: “I do think it’s cool that public markets get to participate in value creation.”
OpenAI’s meteoric rise has been extraordinary since Altman cofounded the company with eleven others in 2015. The launch of ChatGPT in 2022 transformed the company’s trajectory, with the AI-powered chatbot now boasting 800 million weekly users. The company has secured approximately $1 trillion worth of deals with major tech companies including Oracle, Nvidia, and AMD.
In October, OpenAI reached a staggering $500 billion valuation following a secondary share sale, briefly surpassing Elon Musk’s SpaceX as the world’s most valuable private company, though SpaceX has since reclaimed that title. The Information reported Wednesday that OpenAI is now seeking to raise additional billions at an even higher $750 billion valuation.
Signs point to OpenAI preparing for a potential public offering. Reuters reported in October that the company is considering filing with securities regulators as early as the second half of 2026. However, when directly asked if OpenAI would IPO next year, Altman remained noncommittal, responding “I don’t know” and adding, “We will be very late to go public.”
Key Quotes
Am I excited for OpenAI to be a public company? In some ways, I am, and in some ways I think it’d be really annoying.
Sam Altman expressed his mixed feelings about OpenAI’s potential IPO on the Big Technology Podcast, revealing the internal conflict between the benefits of public markets and the burdens of public company leadership.
Am I excited to be a public company CEO? 0%.
Altman was blunt about his personal lack of enthusiasm for the responsibilities and scrutiny that come with leading a publicly-traded company, despite OpenAI’s massive success and valuation.
It’s wonderful to be a private company, but OpenAI needs lots of capital and is going to cross all of the shareholder limits and stuff at some point.
The OpenAI CEO acknowledged the practical realities driving the company toward an IPO, including capital requirements for AI development and regulatory shareholder limits that private companies eventually face.
I do think it’s cool that public markets get to participate in value creation.
Despite his reservations, Altman recognized one positive aspect of going public: democratizing access to OpenAI’s growth and allowing everyday investors to benefit from the AI revolution.
Our Take
Altman’s candid admission reveals a fundamental tension in the AI industry: the need for massive capital to train increasingly sophisticated models conflicts with the desire for long-term thinking unconstrained by quarterly earnings pressures. His “0%” enthusiasm for public company leadership is particularly telling given OpenAI’s extraordinary success. This suggests that even at a $500-750 billion valuation, the burdens of public markets—regulatory compliance, shareholder activism, and short-term performance pressures—may hinder the kind of ambitious, long-term AI research that has defined OpenAI’s mission. The eventual IPO will be a critical test of whether public markets can support frontier AI development or whether the most innovative AI work will remain concentrated in private companies and well-funded research labs. Altman’s reluctance may also signal concerns about maintaining OpenAI’s unique governance structure and safety-focused mission in a public company framework.
Why This Matters
This story is significant for the AI industry as it reveals the internal tensions facing even the most successful AI companies as they scale. OpenAI’s potential IPO would be a watershed moment for the artificial intelligence sector, potentially becoming one of the largest tech IPOs in history and setting valuation benchmarks for other AI companies.
Altman’s candid remarks highlight the unique challenges of leading AI companies that require massive capital for compute infrastructure and model training while maintaining the agility and long-term focus that private ownership allows. His reluctance to embrace public company leadership despite OpenAI’s success underscores the regulatory scrutiny, quarterly earnings pressure, and shareholder demands that could constrain AI research and development.
For the broader tech ecosystem, OpenAI going public would democratize access to AI value creation, allowing retail investors to participate in the AI revolution. It would also provide crucial transparency into the economics of frontier AI development, including the massive capital requirements and revenue models that sustain these companies. The timing and valuation of OpenAI’s eventual IPO will likely influence funding dynamics across the entire AI startup landscape.
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Source: https://www.businessinsider.com/sam-altman-openai-ceo-of-public-company-would-be-annoying-2025-12