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OpenAI, the company that has significantly contributed to the widespread adoption of artificial intelligence (AI), is getting ready for an initial public offering (IPO) expected to take place in 2027, as reported by Reuters on the 29th. The projected company valuation stands at $1 trillion (around 1,425 trillion South Korean won), and if achieved, it would be the biggest IPO since Saudi Aramco’s in 2019, according to predictions.

As reported by Reuters, OpenAI is exploring the possibility of filing a listing application with financial regulators during the latter half of next year, aiming for an IPO in 2027. The company’s target valuation is $1 trillion. Currently, OpenAI’s corporate value stands at $500 billion, positioning it as the most valuable privately held company. Nevertheless, the plan could be adjusted based on market circumstances and the amount of capital to be raised.

If the IPO goes ahead as scheduled, it is anticipated to be the second-biggest in history and the largest for a company not owned by the state. Saudi Aramco, the state-run oil company of Saudi Arabia, which was listed on its local stock market in 2019, had a corporate valuation of $1.7 trillion at that time.

On the 28th, OpenAI completed a plan to reorganize its company structure into a Public Benefit Corporation (PBC). A PBC is a unique form of corporation within U.S. law that aims to achieve both public good and profit goals in its operations. It enables obtaining funding via an initial public offering and through investments.