OpenAI may delay its initial public offering until 2027, according to a Bloomberg report on Friday citing people familiar with the matter. The timeline could allow rival Anthropic to become the first of two AI companies to go public.

Both companies have confidentially filed with the US SEC, but Anthropic is reportedly considering an IPO as early as October, while OpenAI has pushed back its previously anticipated fall debut.

According to the report, market volatility in technology stocks is among the factors influencing OpenAI’s IPO timeline. Discussions are still underway, and OpenAI’s IPO plans remain subject to change.

Sam Altman-led company has not publicly confirmed a launch date, and has stressed that filing confidentially does not signal an immediate IPO.

The two leading AI developers have been racing toward public markets as they seek access to additional funding to finance the enormous costs of building AI models, expanding computing capacity, and constructing data center infrastructure. OpenAI has selected Goldman Sachs and Morgan Stanley to advise on its potential listing.

OpenAI believes some strategic priorities may be easier to execute as a private company, while maintaining the option to accelerate its listing if appropriate, as reported. Earlier this year, OpenAI completed a $122 billion fundraising round that valued the company at approximately $852 billion.

News of the potential delay affected several companies linked to OpenAI. Shares of Goldman Sachs, Morgan Stanley, SoftBank, and Oracle all moved lower after reports suggested the IPO could be pushed back.

Anthropic has narrowed the gap with OpenAI following rapid revenue growth driven by strong adoption of its Claude AI products, especially software development tools.