OpenAI Chief Financial Officer Sarah Friar informed staff during an all-hands meeting on Wednesday that the company will operate as a public firm in 2027. She added that an earlier market entry remains possible should the business continue its current trajectory of acceleration.

Friar described the planned listing as a funding milestone rather than a final destination. She noted that the $122 billion raised in March provides the firm with meaningful flexibility as it prepares for public markets.

OpenAI submitted a confidential registration statement to the U.S. Securities and Exchange Commission in June. No formal listing date has been announced publicly. The company carries a post-money valuation of $852 billion from its most recent private funding round.

Growth Metrics Shared Internally

During the same meeting, Friar presented updated operating figures. The revenue run rate has risen 35 percent quarter to date, while the enterprise revenue run rate has increased 50 percent over the same period. Coding and workplace products now attract 20 million weekly active users.

OpenAI generated $6.7 billion in revenue during the second quarter, an 18 percent increase from the prior three months. Its annualized revenue run rate has surpassed $40 billion. Enterprise income has overtaken consumer revenue, reversing an earlier 60-40 split that favored individual users.

The company also completed a $7 billion employee share buyback last week at the same $852 billion valuation established in March.

Anthropic Timeline Addressed Directly

Friar acknowledged that competitor Anthropic, which also filed confidentially, could reveal its registration details in the coming weeks and potentially list in September. She told employees this outcome would not alter OpenAI’s approach.

Anthropic reported preliminary second-quarter revenue of $11.5 billion and an annualized run rate of $65 billion as of late July. Discussions among investors have referenced potential public valuations exceeding $2 trillion, following a private mark of $965 billion earlier this year.

Both firms have received guidance from banks that the first to list may help establish valuation benchmarks for the sector.

Internal Timing Discussions

The 2027 target resolves earlier internal differences over timing. Chief Executive Officer Sam Altman had previously advocated for a late-2026 listing and resisted valuations below $1 trillion. Advisers outlined options that included a faster offering at a reduced price or a later debut aligned with the higher target. Friar’s preference for additional preparation time has become the message conveyed to the broader organization.

The comments come amid a series of senior departures, including the recent exit of chief revenue officer Denise Dresser. Other executives who have left earlier this year include Brad Lightcap and Fidji Simo.

OpenAI continues to scale operations while managing substantial infrastructure commitments. The confidential filing process remains active, with the 2027 window now presented as the primary internal planning horizon, subject to ongoing business performance.