Their company is so volatile and unsustainable in the long-term that it makes sense to go public (for the current owners)

In its current state the economics of the company make little sense to me. The astronomical costs to execute a prompt versus the relatively tiny price tag to the customer smells like an Enron scandal to me except everyone knows it and we’ve accepted it. Wall street is less forgiving.

Isn’t one of the reasons to go public to raise capital? They seemed to be doing that just fine without the weight of the open market with extremely profitable companies like Nvidia funneling billions of dollars in.

the only way they never go public is if they die quickly

edit: which I doubt btw. investors are going to want to dump the bags very soon

I mean, this seems fairly clear.

Either OpenAI fails, and goes nowhere.

Or it succeeds, in which case IPOing will be a quaint aspect of history.

People really aren't following through on what it means for any of these companies to succeed.

They are constantly out of money, going public would be the dumbest move imaginable. They are unstable, not only financially, but in leadership.