Micron stock fell 4% Friday after reports that OpenAI is reconsidering its IPO timeline, potentially delaying it from 2026 to 2027 to secure a higher valuation. Since OpenAI plans to spend its recently raised $122 billion（約20兆円） on computing capacity from hyperscalers, who depend on chip purchases from companies like Micron, a postponed IPO could delay the expected surge in chip demand and spending.
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Micron stock fell 4% on Friday after reports that OpenAI is considering postponing its IPO from 2026 to 2027 to pursue a higher valuation. OpenAI's financial advisors presented CEO Sam Altman with a choice between a 2027 IPO with potential $1 trillion（約160兆円） valuation or a 2026 IPO at potentially lower valuation; Altman reportedly now leans toward delaying.
Why it matters
OpenAI is expected to spend most of the $122 billion（約20兆円） it raised in its last funding round renting computing capacity from hyperscalers (large cloud providers), who then purchase chips and memory from makers like Micron to build data centers. If OpenAI postpones its IPO to 2027, it may also postpone this spending, delaying the revenue windfall for chipmakers.
What to watch
This concern emerged even as Micron blew past earnings estimates Thursday and set a new all-time high share price, with stock closing up 15.7% — so despite Friday's 4% decline, the stock remains considerably higher than before earnings.
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