OpenAI has delayed its IPO to 2027, a timeline that would potentially see it go public after its AI rival Anthropic.

The ChatGPT maker’s leadership expects Anthropic to go public first, Bloomberg News reported, even though both companies have already filed confidentially with the US Securities and Exchange Commission.

OpenAI had been targeting a fall listing, and Anthropic is considering an IPO as early as October, Bloomberg News has reported.

Recent volatility in tech stocks has influenced OpenAI’s potential timing, the report said.

Deliberations are ongoing, and details of OpenAI’s IPO plans could change, the report said. The New York Times first reported the expected IPO timing.