A report that OpenAI may push back its stock-market debut sent technology shares sliding around the world this week. According to a New York Times report cited by multiple outlets, the ChatGPT maker is now leaning toward waiting until 2027 to go public, rather than listing in 2026. Several reports, including coverage summarized by 24/7 Wall St., link the hesitation to OpenAI's reluctance to accept a valuation below the roughly $1 trillion target associated with CEO Sam Altman.
The news rattled investors already nervous about whether the AI boom can keep delivering returns. The Dow, S&P 500 and Nasdaq slid, and chipmakers were hit hardest: Nvidia, Micron and AMD led a semiconductor selloff, per GuruFocus, with Nvidia heading toward its worst week since April of last year, according to MSN. SoftBank, a major OpenAI backer, plunged 13%, TradingView reported, and Microsoft touched a one-year low. The Associated Press noted Wall Street was tracking toward just its second losing week in the last 13, with heavy selling in Japan and South Korea as traders locked in gains.
CNBC reported that OpenAI has not actually set a timeline or begun pre-IPO "testing-the-waters" meetings with investors. Prediction-market traders on Kalshi, per CNBC, see only about one-in-three odds of a 2026 listing but a strong chance by mid-2027. Losses later eased somewhat on Friday, MSN reported.
Why it matters: A single private company's listing plans now move global markets, a sign of how much investor confidence is riding on the AI trade.