In late 2024, OpenAI, still recovering from the aftershock of the brief, messy ousting of Sam Altman, initiated what it hoped would be a relatively straightforward process of converting to a more traditional for-profit business that would be more appealing to investors. Then came the pushback.

According to a Reuters report published on Wednesday, OpenAI is laying the foundation for what could be one of the largest-ever IPOs and is thinking about filing as early as the second half of 2026. In discussions, the company has considered raising $60 billion at the low end, and possibly more, which would value the company at up to $1 trillion.

OpenAI is converting to a for-profit and settling an investigation by California’s attorney general. Experts and advocates have concerns.

The shift establishes a nonprofit foundation overseeing a for-profit corporation, allowing the world’s most valuable startup to woo investors and secure funds.

The software giant is giving longtime backer Microsoft a 27% ownership stake worth about $135 billion as part of the restructuring plan.

Microsoft and OpenAI announced Monday a series of new business partnerships aimed to advance artificial intelligence capabilities in U.S. commerce.

Microsoft could also work with one or many of OpenAI’s own competitors in its race to hit AGI. Last month, Microsoft began buying AI from OpenAI’s arguably biggest rival, Anthropic, in a move to diversify its AI partnerships; we could see the company work with Anthropic or any number of other startups in the near future.

To top it all off, TSMC's stock is relatively well-priced compared to many of its AI peers. The company's shares have a price-to-earnings ratio of 31.5, which is nearly on par with the average P/E ratio of 31 for the S&P 500 index and far lower than the tech sector's 47 average.