OpenAI is reportedly gearing up for an initial public offering (IPO) in the fourth quarter of 2026, engaging in informal talks with several Wall Street banks and expanding its financial team. This move comes as OpenAI faces competition from Anthropic, which may go public first, according to sources familiar with the matter. The company is addressing challenges such as high costs for computing power and chips, intensified core business competition, and legal risks involving Elon Musk. The IPO is seen as a crucial step to bolster market confidence and meet long-term capital needs. Additionally, other tech firms, including SpaceX, are also considered potential IPO candidates, with expectations of a significant revival in IPO activity by 2026.