About This Episode
OpenAI is preparing to confidentially file for an initial public offering (IPO) as soon as this week, targeting a September listing. The company, valued at $852 billion, is working with Goldman Sachs and Morgan Stanley as lead bankers. This historic IPO would reshape how investors price AI infrastructure and the entire sector. OpenAI CEO Sam Altman hopes the company will be ready to go public by September 2026.
Our Take
OpenAI's IPO isn't just a Wall Street milestone — it's the moment the company founded to prevent AI from being controlled by a few hands hands control to the market, and the book's iron law of oligarchy framework explains exactly why this was always the likely outcome.
Continue Reading on Unscarcity
OpenAI's $122B Round: The Biggest Bet in History
This article directly covers OpenAI's capital raise trajectory and valuation, providing the analytical foundation for understanding what an $852B IPO means for AI's concentration of power.
Iron Law of Oligarchy Explained: Michels to AI (2026)
OpenAI going public at $852B is a textbook case of Michels' iron law in action — a nonprofit mission to benefit humanity transforming into a publicly traded oligarchy accountable to shareholders, not civilization.