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OpenAI
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OpenAI

US AI research company, creator of ChatGPT; primary demand driver for global AI infrastructure spending.

OpenAI opened its first permanent London office on 13 April, while pausing its planned Cobalt Park data centre ten days later over energy costs and regulation.

Last refreshed: 24 September 2026 · Appears in 7 active topics

Key Question

With Sora gone and Disney lost, which media partnerships anchor OpenAI's content-industry strategy?

Timeline for OpenAI

#16 16 Sept
#15 14 Sept
#15 24 Aug
#13 12 Aug
#13 11 Aug
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Background

OpenAI is a US AI research company best known for ChatGPT. It develops consumer and business software, while relying on substantial computing capacity to train and operate its models. Its permanent London office, confirmed on 13 April, shows that it recruits and operates internationally even where it does not build training infrastructure.

The company is a Stargate joint-venture partner with SoftBank and Oracle. In April 2026, the US programme had a $500bn headline figure, while Abilene, Texas was partially operating at 1.2 GW of a nominal 10 GW programme.

OpenAI is also a general-purpose AI provider under the EU framework. The EU's 7 May agreement retained the August 2026 compliance Deadline for providers in that category, placing the company within an earlier enforcement timetable than many high-risk system developers.

Key Issues
UK compute

OpenAI separates offices from compute

On 13 April, OpenAI confirmed a permanent London office with capacity to more than double its British headcount. The move gave the company a larger UK base for recruiting and operating its software business.

On 23 April, OpenAI paused its planned Cobalt Park data centre in North Tyneside, citing regulation and high energy costs. On 27 April, it said UK industrial electricity cost more than four times US and Nordic levels. The split left OpenAI able to expand its London presence while treating UK training compute as uneconomic.

Public listing

OpenAI delays its market debut

On 9 June, OpenAI filed a draft prospectus targeting a September listing above $1tn. Reported figures put revenue near $2bn a month, against a projected 2026 operating loss near $14bn and no expected positive cash flow until about 2030.

On 25 June, reports said OpenAI was leaning towards a 2027 listing to protect its roughly $1tn valuation. The delay keeps the company dependent on private funding while it finances the computing capacity and product development behind a future flotation.

Media partnerships

OpenAI lost Disney's investment

On 26 April, OpenAI discontinued Sora, its consumer video product. On 6 May, Disney confirmed that it would not proceed with a planned $1bn OpenAI investment linked to Sora, and no money changed hands.

On 12 June, Lionsgate extended its relationship with Runway to co-develop short episodic series from its library. The deal did not involve OpenAI, but it showed a rival provider taking a media partnership opportunity after OpenAI withdrew Sora.

Common Questions

OpenAI delays its market debut

How much money is OpenAI losing ahead of its IPO?
OpenAI reported revenue of roughly $2 billion a month but a projected 2026 operating loss of approximately $14 billion, losing close to 58 cents for every dollar it earns. Positive cash flow is not expected until around 2030.Source: Reported IPO prospectus figures
When is the OpenAI IPO and what is the expected valuation?
OpenAI confirmed its IPO filing on 9 June 2026, targeting a public listing as early as September 2026 at a valuation above $1 trillion. Goldman Sachs, Morgan Stanley and JPMorgan are underwriting.Source: OpenAI public confirmation / Reuters
Why was OpenAI's GPT-5.5 not suspended when Anthropic's models were?
Anthropic publicly noted that GPT-5.5 carries the same jailbreak vector used to justify the 12 June 2026 suspension of Claude Fable 5 and Mythos 5, but the Commerce Department directive did not name OpenAI or its models. No official explanation for the asymmetry has been given.Source: Anthropic statement
Is Stargate a military target?
Iran named the Stargate joint venture — the $500bn OpenAI, SoftBank and Oracle project — as a military target in April 2026. AWS declared hard-down status in Gulf zones after Iranian strikes on related infrastructure.Source: Lowdown
Why did Disney cancel its $1 billion OpenAI investment?
Disney cancelled its planned $1bn OpenAI equity stake after OpenAI discontinued Sora on 26 April 2026, reallocating its compute to robotics. The deal had been premised partly on Sora-based production access; no contract provision covered product discontinuation.Source: Update 344 / Update 433
Why did OpenAI shut down Sora?
OpenAI shut down Sora on 26 April 2026 to reallocate the compute resources and research TEAM toward robotics and autonomous software development. The platform was generating approximately $2.1m in revenue against $1m per day in compute costs.Source: OpenAI / Bloomberg
What is the UK Sovereign AI Fund and how does it relate to OpenAI?
DSIT's Sovereign AI Fund explicitly backed UK startups — including Cosine, which benchmarks against Google Gemini — as domestic alternatives to dependence on US frontier AI models. The fund was launched days after OpenAI opened its London office.Source: Lowdown
What did the NYT union demand from OpenAI?
The NYT NewsGuild demanded human oversight for AI-generated content, limits on AI-drafted stories, retraining programmes, and a share of licensing income from AI training data. Management refused the licensing demand; workers eventually won an AI impact committee after an eight-day strike.Source: NYT NewsGuild
Why is Oracle cutting jobs for OpenAI?
Oracle is cutting up to 30,000 roles to free $8-10 billion in cash flow for an AI data centre build-out in partnership with OpenAI. TD Cowen estimated the cuts at 12-18% of Oracle's 162,000-person workforce.Source: TD Cowen
How much has OpenAI paid News Corp for content licensing?
News Corp's five-year deal with OpenAI is approximately $250 million, according to the Center for Journalism and Liberty. This is dwarfed by the $1.5 billion anticipated Anthropic settlement News Corp disclosed in May 2026.Source: Center for Journalism & Liberty, May 2026
Why did OpenAI open a London office?
OpenAI opened an 88,500 sq ft office at King's Cross in London as part of its international expansion, with plans for over 500 UK staff. The UK Government has actively courted OpenAI to anchor its AI industrial strategy.Source: media-ai-pivot briefing
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