Sam Altman’s September 2026 statements that an OpenAI IPO in 2026 would be “ill-advised” due to AI safety and alignment priorities have anchored trader sentiment toward a 2027 timeline. The company’s confidential S-1 filing in June initially targeted a late-2026 listing, but CFO Sarah Friar’s August comments reinforced 2027 as the base case unless revenue growth accelerates sharply. Current private valuation sits near $852 billion following an employee tender, with ongoing talks for a $30 billion-plus pre-IPO round at $1.2–1.4 trillion. Recent revenue run-rate reports near $50 billion and competitive pressure from Anthropic’s planned filing add context, though leadership continues to emphasize mission and safety work best completed privately.