OpenAI CFO Sarah Friar told CNBC on April 8 that the company will reserve a portion of IPO shares for individual investors, citing "really strong demand" after OpenAI raised three times its retail target in its recent $122B private round via placements at JPMorgan, Morgan Stanley, and Goldman Sachs. Friar declined to name a listing date but said it is "good hygiene" for an $852B-valued company to act like a public company; bankers have been briefed on a potential public offering as soon as Q4 2026. OpenAI projects $14B in losses for 2026 and does not forecast profitability until 2030.