OpenAI is leaning toward delaying its initial public offering until 2027, according to three people involved in the company's deliberations cited by the New York Times. The AI firm's advisers have pushed chief executive Sam Altman to move slowly after concerns emerged about achieving his desired $1 trillion valuation under current market conditions.

The cautious stance comes amid volatile trading in high-profile tech stocks, with SpaceX's shares fluctuating sharply in recent months. OpenAI's potential delay reflects a broader wariness among late-stage private companies about entering a choppy IPO market where sky-high valuations are increasingly difficult to sustain.

The New York Times reported that internal warnings suggested the $1 trillion valuation target may not be met in the present environment. The exact projected valuation range or timeline for a potential earlier listing was not disclosed in the sources.

By waiting until 2027, OpenAI would give itself more time to grow revenue and demonstrate stable business fundamentals to public market investors. The delay also reduces pressure on the company to defend a massive valuation during a period of heightened interest rate sensitivity and geopolitical uncertainty.

Critics argue that postponing the IPO could leave early investors and employees in limbo, potentially affecting morale and retention at the fast-growing AI company.