OpenAI is laying the groundwork for an initial public offering that could value the artificial intelligence pioneer at as much as $1 trillion, according to three people familiar with the matter — potentially making it one of the largest listings in history.

The company is considering filing with securities regulators as early as the second half of 2026, some of the people said. In preliminary discussions, OpenAI has explored raising at least $60 billion, with the final figure likely to be higher. The people cautioned that the plans remain at an early stage, and both valuation and timing could shift based on business performance and broader market conditions.