OpenAI is reportedly leaning toward delaying its initial public offering (IPO) until 2027 as it pursues a potential $1 trillion valuation, according to a New York Times report citing three people involved in the deliberations. Advisers have presented CEO Sam Altman with two options: wait until 2027 for the trillion-dollar valuation or settle for a lower figure and list in 2026. Altman reportedly called any reduction a "non-starter." CFO Sarah Friar is said to be pushing for the delay, citing roughly $600 billion in compute infrastructure commitments through 2030 as a reason the company needs more runway before facing public-company reporting obligations.

Financial Burn and Valuation Skepticism

NYU professor and AI skeptic Gary Marcus stated there is "no rational argument" for buying a share of OpenAI at a trillion-dollar valuation. Marcus noted the company is losing roughly $2 billion a month on operations. The Wall Street Journal reported earlier this week that OpenAI has missed recent internal revenue targets, lending weight to skepticism about the company's financial trajectory. Previous reports indicated OpenAI spent about $3.7 billion in the first quarter of 2026 against revenue of about $5.7 billion.

Market and Competitive Context

The advisers' caution may also be tied to the rocky debut of SpaceX Inc. (NASDAQ: SPCX), whose shares have tumbled from above $225 to around $153 since its record IPO earlier this month. While the stock still trades above its $135 offer price, the roughly 30% retracement from its peak may have spooked executives weighing OpenAI's listing window. Competition is also intensifying, with Anthropic pursuing its own IPO plans after filing a confidential Form S-1 on June 1. Polymarket traders place OpenAI third in the race to have the best AI model by the end of 2026, at 11%, far behind Anthropic at 67% and Google at 13%.

Prediction Markets

Polymarket data indicates a shifting timeline for the listing. The market currently assigns a 78% probability that OpenAI will not list before December 31, 2026. A separate market gives Anthropic a 77% probability of beating OpenAI to the public markets.

OpenAI has expanded its Daybreak security effort with new tools and partnerships to speed up software patching. The initiative aims to address the shifting landscape of cybersecurity where AI has accelerated vulnerability discovery, creating a bottleneck in patching rather than finding flaws. The company stated that defenders are now overwhelmed by the number of vulnerabilities found, necessitating a move toward "democratize patching vulnerable software at machine speed."

The expansion includes the full launch of GPT-5.5-Cyber for vetted defenders and the release of a Codex Security plugin. OpenAI reported that its models have already been used to generate patches for critical vulnerabilities in major browsers, network infrastructure, and operating systems such as Free BSD and the Linus Kernel. The company noted that frontier AI models have increasingly accelerated vulnerability discovery, shifting the primary challenge from detection to remediation.

Daybreak Cyber Partner Program

The Daybreak Cyber Partner Program allows security vendors to incorporate GPT-5.5 with Trusted Access for Cyber into their products and services. This structure maintains direct model access with participating partners. OpenAI is also expanding its cybersecurity partnerships with governments and critical infrastructure operators. Collaborators include agencies in the U.S., Australia, Canada, France, Germany, Japan, South Korea, and EU institutions such as ENISA.

Patch the Planet Initiative

OpenAI revealed the "Patch the Planet" initiative, a collaboration with HackerOne, Calif, researchers, and maintainers. The goal is to help widely used open-source projects move from findings to fixes. More than 30 open-source projects have signed on, including cURL, Go, Python, Sigstore, and pyca/cryptography. The company emphasized that the initiative focuses on making powerful cyber capability available to defenders with appropriate access, governance, and human oversight.

Tool Capabilities and Performance

The updated Codex Security plugin assists developers in running scans, assessing severity, collecting validation evidence, mapping potential attack paths, and generating patches tailored to a specific codebase for human review. It can ingest findings from various sources, such as scanners, advisories, bug bounties, or ticketing systems, to automate patch creation at scale and export results into existing workflows.

OpenAI is rolling out the full version of GPT-5.5-Cyber to trusted defenders following an earlier preview. The company stated that the model outperformed GPT-5.5 on benchmarks including CyberGym, ExploitGym, and SEC-bench Pro.