OpenAI President Greg Brockman said the company could be ready for an initial public offering in 2027, citing strong enterprise momentum as the primary catalyst.
Brockman made the remarks at a Wall Street Journal tech conference, revealing that OpenAI's annualized revenue grew 70 percent in the third quarter, with enterprise revenue doubling and becoming the majority of total revenue. Enterprise sales accounted for roughly 30 percent of the company's revenue a year ago.
The turnaround follows a difficult first half of 2026. Brockman described the first and second quarters as "pretty rough," a period when rival Anthropic had gained ground in the enterprise market and in agentic coding—an area where Anthropic's Claude Code captured share that OpenAI "wasn't even in the conversation" for, despite having its own Codex product.
OpenAI's recovery centered on a reboot of its enterprise strategy. The company learned to help clients define specific AI-driven milestones, build trust around reliability, and position itself as a long-term partner rather than a consumer platform. A year ago, enterprise prospects questioned OpenAI's commitment to the business sector. Brockman said that perception has now shifted.
The company cited JPMorgan Chase as an example of the large clients it is now signing. While consumer revenue continued to grow, the enterprise segment expanded significantly faster, Brockman said, and the growth was sustained by strategic investments made earlier in the year rather than a one-quarter anomaly.
