OpenAI executives have reinforced a 2027 IPO target, with President Greg Brockman stating on November 5 that the company is ready and now derives most revenue from enterprise sales after 70% annualized growth and doubled business bookings in Q3. CFO Sarah Friar confirmed post-midterm plans remain unchanged, citing the recent $11 billion tranche of a scaled-back round at a $1.25 trillion pre-money valuation as runway while prioritizing AI safety and data-center infrastructure. The confidential S-1 filed in June 2026 supports the timeline, distinguishing OpenAI from rival Anthropic, whose listing could occur before year-end and test public-market appetite for frontier AI labs amid cooling investor sentiment on infrastructure costs.