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OpenAI Forms JPMorgan Partnership Ahead of 2027 IPO

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OpenAI Forms JPMorgan Partnership Ahead of 2027 IPO

OpenAI Co-Founder and President Greg Brockman said Wednesday (Nov. 4) that the company could be ready for an initial public offering in 2027 and that it has formed a strategic partnership with JPMorganChase to supply the bank with artificial intelligence services, The Wall Street Journal reported.

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Brockman made these comments at the WSJ Tech conference, according to the report.

As part of the partnership with JPMorganChase, OpenAI will provide the bank with access to cybersecurity-focused models as part of the AI company’s Daybreak program, the report said.

Daybreak gives approved individuals and organizations access to OpenAI’s advanced cybersecurity capabilities as well as security solutions, partners and support for protecting systems, according to the OpenAI website.

After the event, Brockman said in a post on X that in the partnership with JPMorganChase, the companies will explore how advanced AI can support the bank by helping engineers, security teams, employees and customers.

“I’m especially excited about working together on cybersecurity, to help secure and protect the financial system to a level that is only possible with AI,” Brockman said in the post.

Addressing OpenAI’s IPO plans at the WSJ Tech event, Brockman said, per the WSJ report: “We want to go public when it’s the right time for us. We’ve made so much progress this year, and I honestly never felt more confident in what we’re doing.”

Brockman’s comments came days after WSJ reported that OpenAI had secured about $11 billion in commitments for its current funding round , less than half of its initial target of $30 billion.


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