OpenAI president Greg Brockman stated the company could be ready for an IPO in 2027 as enterprise revenue grows to account for the majority of sales.
OpenAI co-founder and president Greg Brockman stated on Wednesday that the company could be ready for an initial public offering (IPO) in 2027. Speaking at a Wall Street Journal tech conference in Napa, California, Brockman noted that the company's enterprise revenue has been growing and now accounts for the majority of its sales.
According to Brockman, the company's revenue trajectory changed significantly during 2026. He noted that the first and second quarters of the year were "pretty rough." However, by the third quarter, activity increased, and the company saw 70% quarterly growth in its annualized revenue. Brockman attributed this growth to the enterprise side of the business doubling, noting that the increase was the culmination of previous investments rather than just events within that specific quarter.
Previously, the enterprise segment accounted for approximately 30% of OpenAI's total revenue. Now, Brockman says business customers account for most of the company's sales. He cited a recent partnership with JPMorgan Chase as an example of the types of clients the company is currently winning. While consumer revenue has also been growing, Brockman stated that "the enterprise segment has really taken off."
OpenAI is currently competing in the enterprise market against rival Anthropic. Brockman admitted that OpenAI "wasn't even in the conversation" regarding agentic coding, an area where Anthropic's Claude Code has gained market share. He noted, "We had Codex, but no one was talking about it," adding that the company "just kept our heads down and executed."
To compete, OpenAI has been pushing its Codex agent, and Brockman stated the company intends to bring ChatGPT and Codex into one agentic platform. Brockman also discussed the lessons learned from selling to businesses, stating the company's role is to help businesses identify important milestones they can achieve with AI technology, build trust, and demonstrate reliability as a long-term partner. He remarked, "A year ago, we weren't even really in the enterprise game, right? We were really perceived as a consumer company... But it's so different today."
OpenAI has been working to raise capital while its sales grow. According to Reuters, the company has been attempting to raise approximately $30 billion at a valuation of more than $1.4 trillion. Existing investors include Microsoft and SoftBank.
While OpenAI is looking toward a potential 2027 listing, Anthropic is expected to pursue a public listing sooner. Reuters reports that Anthropic filed confidentially for its own IPO in June and is expected to list before the end of the year.
OpenAI's shift from a consumer-focused company to one driven by enterprise revenue marks a significant change in its business model. As the company seeks massive new funding rounds to fuel expansion, it faces direct competition from Anthropic in both the enterprise market and the race to reach the stock market.
Sources
This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.
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