Is OpenAI's future IPO the peak moment of this round of AI hype? This week, OpenAI completed a structural adjustment, transitioning from a non-profit organization established in 2015 to a new structure after several adjustments: a non-profit organization called the OpenAI Foundation managing a public benefit company named OpenAI Group. The restructuring converts early investors' investments into common equity and removes the cap on financial returns for shareholders, clearing institutional barriers for a potential IPO. On October 30, Reuters cited informed sources stating that OpenAI is considering going public with a valuation of up to $1 trillion, with expectations to submit an IPO application to securities regulators as early as the second half of 2026, aiming for a formal listing in 2027. Sam Altman also mentioned in a public live stream: "Given our capital needs, an IPO is a possible option." It seems the timeline for the IPO plan has been set. The question arises: will OpenAI's IPO in the second half of 2026 or early 2027 be the "peak moment" of this round of AI enthusiasm?