Traders react to report OpenAI may postpone its IPO until 2027, targeting a $1 trillion valuation amid market volatility.
Chip stocks retreated Friday after reports OpenAI may delay its IPO until 2027, opting to wait for a $1 trillion valuation. The AI firm filed confidentially with the SEC on June 8 but remains undecided on timing, citing advantages of staying private for now.
OpenAI was last valued at $852 billion in March, trailing rival Anthropic’s $965 billion. Recent volatility in SpaceX shares, which surged to $225 before falling back to $151, may have influenced the decision.
The news halted a brief rally in memory stocks following Micron’s strong earnings report earlier in the week.