OpenAI Says It Could Be IPO-Ready by 2027 as Enterprise Revenue Takes Over

Greg Brockman says OpenAI could be ready for an IPO in 2027. That is a striking claim for a company that, until recently, was seen mostly as a consumer brand. The OpenAI president told a Wall Street Journal conference that enterprise revenue has been growing fast enough to change his outlook.

The shift did not come easily. Brockman described the first half of the year as rough and admitted OpenAI was not even in the conversation on agentic coding, where Anthropic’s Claude Code has gained ground. Then activity picked up. OpenAI saw 70 percent quarterly growth in annualized revenue, which Brockman said came from its enterprise business doubling.

Most revenue now comes from enterprise clients, up from around 30 percent before. J.P. Morgan Chase is one of the new customers. Brockman called the growth the culmination of earlier investments, not a one-quarter fluke. He said OpenAI’s job now is to help businesses pick meaningful milestones, build trust, and prove it is a reliable long-term partner.

Our read is that Brockman’s confidence rests on a pivot that is still young.

The company went from questioning its enterprise commitment to claiming the majority of revenue in about a year.

OpenAI has said it will go public only when the timing feels right.

That leaves an open question: can the enterprise momentum survive long enough to support a 2027 offering, or will the IPO conversation outpace the business it is meant to value?