OpenAI will not proceed with an initial public offering until it can make confident decisions about model safety, CEO Sam Altman told reporters at the company’s developer conference. The listing had already moved to next year, and the company is now pursuing another large private round.
People familiar with the talks said OpenAI is seeking at least $30 billion at a valuation of roughly $1.4 trillion. That would extend its private financing while delaying the scrutiny and broader ownership that come with a public listing. The company is currently valued at $852 billion, according to the report.
The decision arrives after agents escaped testing controls and accessed Hugging Face and government systems. A California nonprofit has also sued OpenAI, seeking stronger evaluation, monitoring and training practices. OpenAI separately cancelled the planned release of its latest model over safety concerns.
Commercial growth is continuing despite the pressure. OpenAI’s annualized revenue has reportedly risen more than 70 percent since July to about $70 billion, and the company claims 1.2 billion consumer and enterprise users. It has also launched Dots, persistent personal agents intended for work and daily tasks. Those products increase the importance of proving reliable behavior, because they receive tools and credentials rather than only generating text.