June 11, 2026 - Today marks a turning point in Silicon Valley history as OpenAI officially announced its filing for an initial public offering (IPO). After a year of speculation, internal restructuring, and achieving revenue figures exceeding $20 billion, Sam Altman's company is poised to go public.

 The global financial community is divided in its opinions. Analysts, venture investors, and AI ethicists are trying to assess whether this will be the “deal of the decade” or the beginning of the end for independent research in the field of AGI (strong artificial intelligence).

 Optimism: “The technological standard of the new world”
Proponents of the IPO point out that OpenAI has long outgrown its status as a private startup.

 “OpenAI is no longer just a company; it is the infrastructure on which the modern economy is built,” says Mark Greenberg, a leading technology sector analyst at Goldman Sachs. "Going public will give them access to the capital they need to build the next generation of supercomputers. In an arms race with Google and Anthropic, going public is the only way to stay ahead without relying solely on Microsoft's generosity."

 Wall Street investors are emphasizing that ChatGPT's subscription model and API solutions for businesses have become the "new electricity." They believe that the company's market capitalization could easily surpass $200 billion upon its exit.

Skepticism: Conflict of interest and the “soul of the company”
However, in academic and ethical circles, the mood is more alarming. The main question is: how can a public company, accountable to shareholders, uphold its mission to ensure the safety of AI if profit becomes the number one priority?

“Publicity requires quarterly reporting and a constant increase in stock prices,” notes Dr. Sarah Chen, an AI ethics expert at Stanford. "When you're accountable to investors, you can't afford to 'slow down' development for the sake of safety if it slows down growth. OpenAI's structure has always been hybrid, but now shareholders will demand maximized profits. This is a direct path to eroding the company's mission."

Management question: What will happen to OpenAI Non-profit?
Analysts are particularly focused on how the corporate structure will look after the listing. According to reports, OpenAI plans to maintain a non-profit board of directors with the power to veto decisions related to security.

 "This will be a legally complex precedent," says securities lawyer James Harper. "Investors are extremely reluctant to invest in companies where a non-profit board can block important financial decisions for 'ethical reasons.' This creates an area of uncertainty that could discourage conservative institutional investors."

 What's next?
The market is waiting for the publication of the prospectus (S-1), which will disclose information about the costs of training models and the actual profitability of the business.

 In the meantime, Silicon Valley is in a state of anticipation. If OpenAI's IPO is successful, it will solidify the dominance of generative AI in the global economy. However, if there are any issues, it could signal a cooling of the entire AI technology bubble.

As one venture capitalist put it, speaking on condition of anonymity, “Today, OpenAI has gone from being a project of a group of enthusiasts to being a state within a state. They will now have to play by the rules of capitalism, and this is the most interesting game in the history of the stock market.”