SpaceX Stock Price Drop Rings Alarm Bells, OpenAI May Delay IPO Until Next Year

BlockBeats News, June 26th, according to The New York Times, citing three people familiar with the internal discussions at OpenAI, the company is leaning towards postponing its IPO until next year.

According to sources, OpenAI had originally planned to go public as early as the third or fourth quarter of this year. The company's CEO, Altman, urged financial advisors to find ways to increase the company's valuation to $1 trillion. However, a series of recent developments have led OpenAI executives to abandon their initial ambitious plans.

Of particular concern is the performance of Musk's SpaceX, which went public earlier this month. SpaceX's stock price has recently been on a downtrend, closing at $153 on Thursday, down from a high of $202 last week.

In recent weeks, global markets have also experienced volatility, with tech stocks weighing on indices and investors questioning whether AI companies can deliver on their lofty promises. According to two sources familiar with the matter, OpenAI's advisors warned the company in the past week that retail investors may not show much enthusiasm for the company's stock.