OpenAI’s reported consideration of waiting until 2027 to complete an initial public offering exposes the capital, compute, energy, semiconductor, and data-center supply chains required to support frontier artificial intelligence. OpenAI confirmed in June that it had confidentially submitted a draft S-1 registration statement to the Securities and Exchange Commission. Subsequent reporting said OpenAI’s advisers had discussed two possible paths: list sooner at a lower valuation or wait until 2027 and pursue a valuation closer to $1 trillion. The largest AI developers are becoming major buyers of advanced semiconductors, cloud capacity, data centers, networking equipment, electrical power, cooling systems, and specialized engineering services. Reuters reported that OpenAI was targeting roughly $600 billion in total compute spending through 2030, citing a person familiar with the company’s plans. OpenAI President Greg Brockman later testified that the company expected to spend approximately $50 billion on computing power in 2026. These are forward-looking estimates rather than audited results, and the actual totals could change materially.