OpenAI Goes Public: How Much Will It Actually Cost?

Let's start with the numbers because they're almost unbelievable. OpenAI has confidentially filed documents for a public listing planned for later this year, joining a race that's reshaping the tech landscape. It's not a surprise—the AI sector has become the new financial Wild West, and anyone with a decent chatbot is rushing to cash in.

But here's the twist: according to PitchBook analysts, OpenAI could end up being the most expensive IPO in history. While the rest of the AI industry is lining up private placements worth roughly $3.6 trillion (yes, trillion with a T), OpenAI is poised to fly much higher. And no, this isn't hyperbole: the company holds a virtually unique position in the market, which means investors will pay a serious premium.

Why would OpenAI cost this much? Easy answer: it owns the perceived monopoly in the space. ChatGPT is what people use, it's the name everyone recognizes, and (for now at least) it seems unstoppable. Sure, competitors are pushing hard, but when you ask your grandma about AI, she thinks ChatGPT. This intangible brand value, combined with real revenue (which is growing, though not exactly Nvidia-level), creates a fascinating equation: massive demand, limited supply, astronomical price.

But here's the real question: is it worth it? For retail investors, probably not—unless you genuinely believe OpenAI will be the next Microsoft or Google. For Altman and company, obviously yes: the timing is perfect, the market is hot, and public money is flowing like champagne at a San Francisco tech party. That said, the biggest risk hasn't gone away: that in a couple of years the market realizes paying $100 billion (or more) for a company with unconsolidated margins was a terrible bet.

While OpenAI preps for the listing, competitors aren't sitting still. Gemini, Claude, Llama—everyone's hunting for market share. The real test comes when the IPO launches: investors will finally understand the difference between AI hype and AI value, and that's the steepest curve to climb.