OpenAI Prepares Its Public Offering Filing for September Amid Monthly Losses Exceeding $1 Billion

OpenAI confidentially filed its S-1 disclosure document in June 2026, signaling an approaching public offering window with a potential listing in mid-September. The company records approximately $2 billion monthly in revenue, yet loses $1.22 for every dollar it earns, making this offering a true test of public investors' willingness to fund artificial intelligence companies at their current burn rate.

In the context of market-shaping deals, reports are escalating about talks between PayPal and Advent International regarding an acquisition that, if completed, would be the largest in the history of digital payments. Meanwhile, the first round of investments from the €5 billion Scaleup Europe fund is eagerly anticipated—with expectations of supporting Mistral with up to €3 billion, making it the largest AI funding in Europe.

Likewise, the outline of Anduril's deal to raise up to $100 billion in stages is taking shape, an amount that redefines global defense technology sector valuations. Executive resignations at OpenAI prior to the offering cast a shadow over the market, as some observers point out that they serve as a negative indicator when coinciding with listing preparations.

Together, these deals represent a defining moment in which the market judges its readiness to price companies that combine extraordinary growth with structural losses. OpenAI's listing price will be the benchmark against which the rest of the AI companies are measured—it will not merely be a figure in a prospectus, but a verdict on the future of the entire sector.

What do these terms mean?

S-1 Filing: The document a company submits to the US regulator (SEC) before going public, including its financial statements, risks, and future plans.

Burn Rate: The speed at which a company spends its cash reserves—a company losing a billion a month has a very high burn rate that worries investors.

Scaleup Europe Fund: A €5 billion European investment fund backed by the European Union to finance major technology companies, with the goal of narrowing the gap with American and Asian competitors.