OpenAI is inclined to postpone its IPO to next year, as the company’s banking advisers warned that recent sharp swings in technology stocks and in shares of Space Exploration Technologies Corp. (SPCX.US) following its listing could dampen retail investors’ enthusiasm for an OpenAI IPO, New York Times, citing sources, reported.

The news weighed on SoftBank (9984.JP), whose shares once plunged nearly 13% this morning (26th) and closed down more than 12% at midday. SoftBank’s investment in OpenAI is expected to reach approximately USD65 billion by October. The market has been anticipating that an OpenAI listing would generate substantial gains for SoftBank.

OpenAI CEO Sam Altman urged advisers, including bankers and lawyers, to set a target valuation of USD1 trillion for the company, report said.
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AASTOCKS Financial News
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