ChatGPT-maker confidentially submitted an S-1 filing with the SEC in June to begin the IPO process #
OpenAI CEO Sam Altman signaled that the company will delay its initial public offering (IPO) amid concerns about the safety and alignment of AI models given potential risks they could pose to society.
The ChatGPT-maker confidentially submitted an S-1 filing with the Securities and Exchange Commission in June to begin the IPO process. The company said at the time that it hadn't decided on the timing of the IPO, saying "it may be a while" because it could be easier to do certain things as a private company in the meantime.
Altman said in an interview with Fortune that "we're not rushing into an IPO" and that "I think given everything that's happening with safety… right now would be an ill-advised moment to go public."
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"We don't feel pressure on that. We've said for a long time, we'll do it when we're ready, which is when the business is ready. When we feel ready from a kind of what the moment is like in society with this technology," Altman said, adding that the IPO won't occur in 2026.
"We've got a lot of stuff to do," Altman told Fortune. "Meeting this moment of what is going to be required for safety and alignment, and how the industry and governments can work together – I'm happy to be able to do that as a private company."
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