# OpenAI delays IPO to 2027 as SoftBank shares fall 13%
> Bloomberg reported OpenAI's bankers presented two options: list now at a lower valuation, or wait until 2027 and target $1 trillion; SoftBank fell to its biggest single-day loss since August 2024

**Meta:** type: story · date: 2026-06-26 · heads: 静かな変化, 誰の金か · 9 takes · 4 lenses · 2 regions

## Summary

[Openai](/ja/entity/openai) is weighing a delay of its planned initial public offering from late 2026 to 2027, Bloomberg reported on June 26. Bankers presented management with two paths: list now at a reduced valuation, or wait until 2027 targeting up to $1 trillion. CFO Sarah Friar reportedly favoured the delay, pointing to continued heavy computing-infrastructure spending and uncertain revenue trajectory at scale. [Softbank](/ja/entity/softbank) Group shares fell 13% on the news, the stock's largest single-day drop since August 2024, as SoftBank holds a commitment to OpenAI expected to reach $65 billion by October.

## Why it matters

The delay reflects the structural tension between OpenAI's $300 billion private valuation and the revenue multiples public market investors will accept. [Softbank](/ja/entity/softbank)'s 13% fall in a single session shows how fully a 2026 listing was priced into its NAV. A 2027 timeline extends regulatory uncertainty around OpenAI's nonprofit-to-PBC conversion and gives Anthropic and Google more runway to narrow OpenAI's commercial lead before the IPO window opens.

## What to watch

- Whether OpenAI publicly confirms a 2027 timeline or attempts a faster listing at a lower valuation.
- SoftBank's next quarterly NAV statement and whether Vision Fund 2 marks down its OpenAI position.
- Anthropic's IPO timeline: if Anthropic lists before OpenAI, it resets the benchmark valuation for the sector.

## Regional takes (batched by bias / lens)

### financial wire, IPO and deal reporting
- **Bloomberg** (United States, en) — Bloomberg reported that OpenAI bankers presented management with two paths: an accelerated listing at a lower valuation, or a delay to 2027 aiming for up to a $1 trillion valuation. CFO Sarah Friar reportedly advised waiting as the company continues heavy capital expenditure on computing infrastructure. Choppy post-IPO performance of comparable tech companies was cited as a factor dampening investor appetite.
  > "OpenAI bankers presented two options to management: list soon at a lower valuation, or wait until 2027 to target up to $1 trillion, Bloomberg reported."
  Source: https://www.bloomberg.com/news/articles/2026-06-26/softbank-s-shares-tumble-after-report-of-openai-s-ipo-delay

### equity analysis, retail investor coverage
- **Seeking Alpha** (United States, en) — Seeking Alpha reported SoftBank Group shares fell 13% as the OpenAI IPO delay report hit markets, flagging that SoftBank's total commitment to OpenAI is expected to reach approximately $65 billion by October 2026 and that the prospect of a near-term IPO had lifted SoftBank shares to all-time highs in May.
  > "SoftBank shares fell 13% as OpenAI reportedly weighs IPO delay to 2027; SoftBank's total commitment to OpenAI is expected to hit $65 billion by October."
  Source: https://seekingalpha.com/news/4607637-softbank-shares-plunge-13-as-openai-reportedly-weighs-ipo-delay-to-2027

### tech business, founder economy
- **QZ (Quartz)** (United States, en) — QZ analysis noted that Masayoshi Son had publicly linked SoftBank's AI investment thesis to the OpenAI listing, and that Vision Fund 2 holds OpenAI equity at marks based on expected IPO valuations. The delay creates direct NAV pressure and raises questions about Son's ability to declare AI returns ahead of the 2026-2027 fundraising cycle.
  > "SoftBank's Masayoshi Son had linked the AI investment thesis to the OpenAI listing; the delay creates NAV pressure and complicates fundraising timing."
  Source: https://qz.com/softbank-stock-openai-ipo-delay-2027-062626

### unlabelled
- **TradingKey** (Global, en) — 
  Source: https://www.tradingkey.com/analysis/stocks/us-stocks/261992650-openai-ipo-delayed-2027-softbank-ai-bet-valuation-test-stock-price-plummets-12-tradingkey
- **TradingKey (SoftBank analysis)** (Global, en) — 
  Source: https://www.tradingkey.com/analysis/stocks/us-stocks/261993000-softbank-stock-forecast-openai-ipo-delay-stock-analysis-june-2026-tradingkey
- **GuruFocus** (United States, en) — 
  Source: https://www.gurufocus.com/news/8934006/softbank-plunges-on-openai-ipo-delay
- **CryptoBriefing** (United States, en) — 
  Source: https://cryptobriefing.com/softbank-stock-falls-openai-ipo-delay/
- **Bloomberg (video)** (United States, en) — 
  Source: https://www.bloomberg.com/news/videos/2026-06-26/softbank-shares-fall-on-report-openai-to-delay-ipo-video
- **MSN Money** (United States, en) — 
  Source: https://www.msn.com/en-us/money/companies/softbank-shares-plunge-13-as-openai-reportedly-weighs-ipo-delay-to-2027/ar-AA26zOmg

## Across the graph
- Related: [[openai-confidential-ipo-trillion-2026]]
- Entities: Openai, Softbank

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Canonical: https://rbtfl.xyz/ja/n/openai-ipo-delay-2027