There's a very low chance of OpenAI doing an IPO this year: https://polymarket.com/event/openai-ipo-by https://polymarket.com/event/openai-ipo-by. So the assump

There's a very low chance of OpenAI doing an IPO this year: https://polymarket.com/event/openai-ipo-by https://polymarket.com/event/openai-ipo-by. So the assumption that they "have to do an IPO" already seems questionable. The rest of the analysis also feels pretty hand-wavy. I'm not saying OpenAI is in a strong financial position, but this article doesn't make a solid enough case for why it's supposedly in such dire straits.