The general judgement of the Wall Street Investment Bank: OpenAI's IPO could be delayed until the first half of 2027

On 16 July, according to the twenty-first financial year, Wall Street has been working on a narrative book for the last six months of a “Big Model Head IPO, Capital Market Rejoice”. It is widely believed that, with the recognition of the revenues of large model enterprises at the beginning of 2026, these enterprises will move ahead with the IPO process in the second half of the year to seize the best market window period. However, after July, this expectation became apparent. In recent days, media reports have stated that CEO OpenAI Sam Ottman rejected the “lower price on the market” programme proposed by the team of consultants, reiterating that it is the bottom line of the trillions. Prior to that, the valuation of Anthropic after the completion of the financing at the end of May amounted to $965 billion, putting some price pressure on the stronger Ottman. In response, Wall Street Investment Bank agencies generally concluded that the large model enterprise IPO, originally scheduled to be launched in the second half of 2026, could be delayed until the first half of 2027 due to reduced market risk preferences and uncertainty in the liquidity environment。