Prof G Markets · Tuesday, June 30, 2026
Alex Heath explains that OpenAI is still working to establish the necessary finance and investor relations infrastructure for a public company. He notes that the company's chaotic nature and lack of formal processes, typical of a startup despite its valuation, present significant hurdles for an IPO. Heath suggests that OpenAI's various ventures, including potential hardware and ad strategies, add to the complexity.
“I think there's a lot of investor banker types who are trying to gin this up. I don't think OpenAI is ready. Uh, I know that they're still trying to get their finance and investor relations org in place for what is needed for a public company.”
“Uh, OpenAI and Anthropic, these are not normal companies. They don't work like normal companies, they're incredibly chaotic. They don't have formal processes in place that a mature public company would have. Um, as commercial entities, they're really only a few years old. And so even though they have these massive valuations, they very much feel, and you feel this when you talk to people internally, like a startup. And that has a lot of, uh, things that have to be ironed out before you can IPO.”