Rohan Paul@rohanpaul_ai · XOpenAI 据传正倾向于2027年进行IPO，原因是公共市场正在测试AI巨头是否值得万亿美元估值、SpaceX 和 Anthropic 的巨额IPO也会争夺同一笔机构资金。与此同时，美国政府要求OpenAI将GPT-5.6改为受控预览发布，仅向小组合作伙伴提供早期访问，官员逐个批准客户。此举主要担忧在于模型自动化高级网络工作能力——帮助防御者发现漏洞的同时，也可能让攻击者更快测试利用方式。
New York Times： OpenAI is now leaning toward a 2027 IPO because the public market is testing whether AI giants deserve trillion-dollar prices before they prove durable profits.
IMO， SpaceX's huge IPO and Anthropic's confidential filing also change the OpenAI story because public-market capital is not infinite， and investors may already be digesting one massive AI-adjacent listing while preparing for another pure AI listing.
OpenAI cannot just ask for $1T in isolation， because every giant IPO competes for the same pool of institutional cash， risk appetite， and patience for loss-making growth stories.
So waiting until 2027 lets OpenAI avoid becoming the third huge test of AI-market depth in the same cycle