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Gold falls ahead of Fed meeting as rate hike expectations grow

Major banks such as Goldman Sachs and HSBC now expect the Fed to raise interest rates by 25-basis-points at its policy meeting on Tuesday and Wednesday

Reuters
Reuters

14 September, 2026

Gold falls ahead of Fed meeting as rate hike expectations grow

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Gold prices slipped on Monday, as expectations of a US Federal Reserve interest rate hike this week strengthened after recent hot inflation data and rallying oil prices.

Spot gold was down 0.9 per cent at $4,308.24 per ounce by 0907 GMT, after posting a third straight weekly decline on Friday. US gold futures dropped 1.4 per cent to $4,348.50.

The dollar firmed at an over one-week high, making greenback-priced bullion more expensive for holders of other currencies.

“Markets are now fully pricing in a Fed rate hike following last week’s CPI data. At the same time, the renewed rise in oil prices could reinforce inflation concerns and keep the Fed on a hawkish footing,” said UBS analyst Giovanni Staunovo.

Read more-Gold falls for fourth straight session as Middle East conflict fuels rate-hike fears

US consumer prices accelerated in August, while a key measure of underlying inflation posted its largest increase in four months, data showed on Friday, reinforcing US rate hike expectations.

Traders are pricing in about an 89 per cent chance of a rate hike at the central bank’s policy meeting this week, up from about 67 per cent prior to the inflation data last week, according to the CME FedWatch Tool.

Major banks such as Goldman Sachs and HSBC now expect the Fed to raise interest rates by 25-basis-points at its policy meeting on Tuesday and Wednesday.

The BOJ is also expected to raise rates on Friday, amid rising energy prices and little sign of easing Middle East tensions.

Although gold is typically seen as an inflation hedge, higher interest rates tend to reduce the appeal of non-yielding bullion.

Oil prices rose about 3 per cent on Monday, after new strikes on Saudi Arabian energy and civilian infrastructure and Iranian attacks on ships in the Gulf compounded supply concerns following the closure of a key Saudi oil pipeline.

Middle East diplomacy appeared to falter heading into Monday with the postponement of a meeting between Iran and other Gulf powers.

Middle East travel demand holds firm despite 2026 disruptions, Wego says

A single corridor, Saudi citizens 
travelling to Egypt, accounted for 19.6 per cent of all international travel by Gulf 
nationals, more than every Emirati, Bahraini, Omani and Qatari journey 
combined, the Wego report showed

Neesha Salian
Neesha Salian

14 September, 2026

Middle East travel demand holds firm despite 2026 disruptions, Wego says
Image: Getty Images/ For illustrative purposes

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Travel demand across the Middle East proved more resilient 
than headlines suggested during this year’s regional airspace closures, with
 travellers continuing to search for trips even as bookings fell by more than a
 third, online travel marketplace Wego said on Monday.

In its annual
 destination report, drawing on search and booking data through the end of
 August 2026 against the same period a year earlier, Wego said the conflict 
involving Iran that began in late February and the airspace closures that
 followed removed flight capacity at short notice.

Within a week
 of the closures, bookings from the six Gulf countries fell from above their 
2025 average to 63 per cent of it, while searches held steady throughout, the company
 said. Bookings did not recover to 2025 levels until early May, and typical 
peak-summer patterns did not resume until July.

Wego report highlights

“When airspace
 closed, people did not stop planning trips; searches held steady even as 
bookings halved,” said Ross Veitch, chief executive and co-founder of Wego.
“What travellers lost was the ability to fly, not the intention to. Access, not 
appetite, sets the ceiling on destination performance in this region.”

The disruption
 did not reshape the top of the rankings. Egypt, India and Saudi Arabia remained 
the top three international destinations for Middle East travellers, a grouping 
unchanged for five years, with Egypt holding first place for a 12th consecutive 
year since 2015, its longest unbroken run in the series.

Pakistan and the
 UAE swapped fourth and fifth places, and Bangladesh entered 
the top eight.

The largest 
moves came further down the table, each tied to a specific change in air 
access. Nepal climbed eight places, the biggest single move on the leaderboard,
while China, Vietnam, Sudan and Kenya each rose seven.

Only two of the 
regions Wego tracks grew: the Indian Subcontinent, up 19 per cent and the strongest
 performer, and Africa. Europe recorded the steepest fall at 20 per cent, Asia Pacific 
eased 6 per cent, and searches to Gulf destinations were down 16 per cent year to date.

Within the
 Middle East and North Africa, destinations furthest from the affected air
 corridors contracted least; Morocco eased 4.3 per cent and Egypt 5.3 per cent, while Algeria 
and Tunisia were the only two to grow.

Those closest eased between 25 per cent and 45 per cent.
Egypt’s inbound tourism drew 5.6 million visitors in the first quarter, up 
43.5 per cent year on year, according to figures Wego cited from Egypt’s tourism
 ministry and statistics agency. Saudi Arabia, shown separately as the region’s 
largest market, eased 15.8 per cent, against declines of 18 per cent to 29 per cent across most of its
neighbours.

In Asia, China
 rose seven places on an 18 per cent increase after extending visa-free entry to Saudi
 Arabia, Oman, Kuwait and Bahrain from June 9, 2025, bringing all six Gulf states under visa-free access for the first full leaderboard period. Vietnam
 also gained seven places, helped by Etihad’s first direct Abu Dhabi-Hanoi
service, launched on November 2, 2025.

Read: Amadeus EMEA’s Maher Koubaa on the AI reshaping travel and the barriers that remain

Gulf Nationals and travel trends

Wego said the 
sharpest structural finding concerned Gulf nationals, whom it tracks by 
passport rather than point of sale.

A single corridor, Saudi citizens 
travelling to Egypt, accounted for 19.6 per cent of all international travel by Gulf 
nationals, more than every Emirati, Bahraini, Omani and Qatari journey 
combined. Saudi Arabia was the top destination for all six Gulf nationalities,
 ranging from 14.1 per cent of Omani travellers to 33.0 per cent of Qataris.

Airfares,
 measured as average booking value, rose from March to peak 23 per cent above the prior
 year in June before easing to within 1 per cent by August, tracking a fuel cycle in 
which jet fuel rose above $200 a barrel by mid-April after disruption to
 shipping through the Strait of Hormuz.

Wego said the increase reflected input
 costs and capacity rather than a structural repricing, and unwound within about 
four months.

Accommodation 
moved the other way. Between March and August, hotel bookings rose 17 per cent while
 average booking value fell 18 per cent, as demand shifted closer to home: domestic 
hotel bookings rose 37 per cent and international bookings eased 9 per cent, lifting the
 domestic share by 9.5 percentage points.

Wego said the
 acute phase of the disruption was behind the market, with the cost environment 
no longer a headwind into the fourth quarter. It flagged the Caucasus, where
 Azerbaijan and Georgia fell on supply rather than preference, as the most
 likely source of a large gain in its next edition, while travel between Gulf 
states by Gulf nationals remained the segment furthest below its earlier level.

ATM 2026: What to expect as global travel industry gathers in Dubai today

AI, resilience, aviation and hospitality take centre stage at ATM 2026 as the travel industry meets following months of disruption

Gulf Business
Gulf Business

14 September, 2026

ATM 2026: What to expect as global travel industry gathers in Dubai today
Image: Dubai Media Office/ For illustrative purposes

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Arabian Travel Market 2026 (ATM 2026) opens in Dubai today, bringing the global travel and tourism industry together as artificial intelligence, resilience, aviation, hospitality and changing traveller expectations move to the centre of discussions about the sector’s future.

The 33rd edition of ATM will run from September 14 to 17 at Dubai World Trade Centre (DWTC).

The exhibition will bring together destinations, tourism authorities, airlines, hotels, travel technology companies, tourism suppliers, and industry professionals from around the world, with confidence, resilience, and collaboration as key areas of focus.

The event is being held under the theme “Travel 2040: Driving New Frontiers Through Innovation and Technology”, examining how artificial intelligence, digital transformation, smart mobility and evolving traveller expectations are influencing tourism.

The conference programme will span the Global Stage, Future Stage and Experience Hub, with sessions covering artificial intelligence, destination resilience, hospitality, aviation, business events, luxury travel, accessibility, sustainability and investment.

ATM’s official knowledge partners will provide research, including Tourism Economics, Euromonitor International and Dragon Trail International.

ATM’s separate official conference programme says more than 200 speakers and contributors will participate, with discussions also covering traveller behaviour, international cooperation and the changing economics of global travel.

Dubai tourism recovery in focus at ATM
The event comes as Dubai’s tourism industry continues to recover following disruption earlier in the year.

Dubai welcomed approximately 869,000 international overnight visitors in August, its strongest monthly volume since February, taking total international visitation to 6.97 million during the first eight months of 2026.

Hotels recorded 21.61 million occupied room nights during the period, while hotel room inventory approached 149,000 rooms by the end of August, DET shared in a statement.

DET is participating in ATM alongside more than 115 co-exhibitors from Dubai’s tourism ecosystem and is hosting more than 300 international travel trade professionals from over 40 countries through its ATM Hosted Buyers Programme.

Resilience and confidence
The industry’s response to recent disruption will be a major part of the conversation at ATM 2026, the organisers said.

RX Global, organisers of Arabian Travel Market (ATM), recently hosted the official press conference for ATM 2026 alongside the event’s strategic partners and key partners, the Dubai Department of Economy and Tourism (DET), Emirates, IHG Hotels & Resorts and Al Rais Travel.

In a report published by state news agency WAM, Danielle Curtis, regional portfolio director – UAE, RX Global, said: “The past few months have required our industry to adapt, and we are extremely grateful for the trust, understanding and flexibility our customers and partners have shown throughout this period. In turn, we have listened closely to their needs, adapted where necessary and worked alongside them to provide the support and flexibility needed to navigate changing circumstances.

“ATM has always been about bringing the global travel community together, and this year that role feels particularly important. As we reconnect in Dubai, our focus is on strengthening partnerships and addressing the immediate priorities facing the industry, while also looking ahead to the innovation and opportunities that will shape the future of travel.”

Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing, part of DET, said hosting ATM at this important moment for the global travel industry reflects Dubai’s role as a trusted meeting point for the world, where government and private sector partners work in close alignment to sustain confidence, enable business and shape new growth opportunities.

“It is also a testament to visionary leadership that has, over decades, built a destination which is agile and confident through every cycle.”

Technology takes a bigger role
Technology will have an expanded presence at ATM with the launch of ATM Travel Tech as a dedicated co-located exhibition.

Sabre has joined as the official ATM Travel Tech Strategic Partner, while the Tech & Innovation Hub will showcase developments in artificial intelligence, immersive technologies, robotics, fintech and smart mobility.

Official ATM programme material says sessions will examine subjects including agentic AI, the future of online travel agencies, investment and consolidation, digital discovery and changes across the travel supply chain.

Ramzi Al-Qassab, MD for the META, EE, CIS, PK, Sabre, ATM Travel Tech Strategic Partner, said: “A lot has changed since we last gathered in Dubai, and our industry is having to navigate current economic and geopolitical uncertainty alongside real technological opportunity. That’s the fog our customers are flying through right now, and Arabian Travel Market is where we come together to help chart a way through it.

“Sabre’s role is to give airlines, agencies and hoteliers the intelligence and technology to navigate the now with confidence while building for what’s next. As we look to the future, that’s exactly the balance we’re helping the industry strike.”

Emirates looks to deepen tourism partnerships
Emirates will use ATM to deepen partnerships, develop business opportunities and showcase its latest products.

Adnan Kazim, deputy president and CCO at Emirates, said: “Arabian Travel Market has long been a key industry fixture in our calendar and is an important platform for Emirates to deepen relationships with partners, create new business opportunities, and give visitors a first-hand experience of our latest products.

“This year, we are furthering joint tourism initiatives and tie-ups with organisations serving specialised traveller segments, along with steadily strengthening our long-standing partnerships. Growing a destination or tapping into new customer segments is not a solo effort and we look forward to a productive ATM, and to what these partnerships will deliver for the wider industry.”

The Emirates stand will also offer travel industry visitors a chance to experience the airline’s other signature products including its A380 Shower Spa, A380 Onboard Lounge, Boeing 777 Game Changer First Class Suite, A350 Business Class seat, and A350 Economy Class Seats.

The new A350 fully electric Premium Economy seat features a full-height privacy divider, an industry first. Alongside the newly introduced features, the seat offers preset lounge and meal seating positions, the airline’s industry-first U-Dream leather headrest, wireless charging, USB-C power charging, a 13.3-inch 4K HDR screen, and numerous other touches.

Hospitality turns to sustainable demand
The outlook for hospitality will also be in focus as operators consider how the region’s growing hotel supply can translate into sustainable demand.

Haitham Mattar, MD, India, Middle East & Africa at IHG Hotels & Resorts, said: “The Middle East continues to demonstrate strong long-term fundamentals for travel and hospitality, supported by sustained investment in tourism, infrastructure, destination development and international connectivity.

“As hotel supply grows, the next phase will be about converting that investment into sustainable, long-term demand – using technology and data to understand travellers better, remove friction from the guest journey and deliver more relevant experiences. ATM’s focus on innovation and technology is therefore timely, bringing the industry together to strengthen partnerships and explore how these capabilities can support responsible growth through 2040 and beyond.”

Read: IHG’s Haitham Mattar on why the Middle East remains hospitality’s strongest bet

Al Rais Travel bets on AI
Al Rais Travel will use ATM to launch its new AlRaisTravel.com platform, featuring Voice AI and Chat AI, while also expanding its presence in medical tourism.

Mohamed Al Rais, ED of Al Rais Travel, said: “This year’s theme, ‘Travel 2040: Driving New Frontiers Through Innovation and Technology,’ reflects the direction in which our industry is moving. Since 1977, Al Rais Travel has grown alongside Dubai, building a legacy based on trust, strong partnerships and personal service.

“At ATM 2026, we are proud to begin our next chapter with the launch of the new AlRaisTravel.com platform, featuring Voice AI and Chat AI to make travel planning faster, easier and more personal. We are also strengthening our presence in medical tourism by connecting travellers with trusted healthcare providers worldwide. As a strategic partner of ATM, we remain committed to combining nearly five decades of experience with technology to help shape the future of travel from Dubai.”

ATM organisers said preparations for the 2026 edition have involved ongoing engagement with exhibitors, buyers, partners and other stakeholders as the

industry adapted to changing circumstances.

For Dubai, ATM also comes as connectivity continues to recover. DET said Emirates has restored 97 per cent of its global network, while load factors at Dubai International Airport are strengthening and approaching 2025 levels.

Over four days, the event will provide a platform for the industry to assess how rapidly technology is changing travel, how destinations and companies are responding to uncertainty, and where the next opportunities for tourism growth are likely to emerge.

iPhone 20 rumors are taking shape: 10 features Apple could introduce in 2027

The timing is particularly important. The iPhone will turn 20 next year, marking two decades since Steve Jobs introduced the original device in 2007

Nida Sohail
Nida Sohail

14 September, 2026

iPhone 20 rumors are taking shape: 10 features Apple could introduce in 2027

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Apple has only just unveiled its iPhone 18 Pro models, but speculation around the company’s next major milestone device is already gathering pace. The so-called iPhone 20, expected in September 2027, could bring one of the most significant redesigns to Apple’s flagship smartphone in a decade.

The timing is particularly important. The iPhone will turn 20 next year, marking two decades since Steve Jobs introduced the original device in 2007. Apple used the 10th anniversary in 2017 to launch the iPhone X, a product that fundamentally changed the design of its smartphone lineup. Reports suggest the company could be preparing a similar moment for the iPhone’s 20th anniversary.

Bloomberg’s Mark Gurman has reported that Apple is developing a special anniversary model with “curved glass around all corners and edges” and slimmer bezels. According to Gurman’s reporting, the device would represent the biggest redesign of Apple’s current iPhone Pro line since the iPhone X.

Read: Apple unveils iPhone 18 Pro and first foldable iPhone Duo: UAE prices, pre-order dates

A radical new look could be coming

The biggest change could be visible the moment users pick up the phone.

Reports indicate that Apple is exploring a quad-curved, all-glass design in which the display curves around all four sides, concealing much of the metal frame. MacRumors, citing information from Apple’s supply chain and other reports, says Apple is working with Samsung on an “equal-depth quad-curved” display to achieve the effect.

Read more: Want to buy the iPhone 18? Here’s when it could be available

If the technology makes it into the final product, the iPhone 20 could have a more uninterrupted glass appearance than current models. Rather than simply refining the existing design, Apple would be changing the basic visual architecture of its flagship phone.

The display itself could also be thinner and brighter. Apple is reportedly considering Samsung OLED panels using Colour Filter on Encapsulation, or COE, technology. The approach can reduce the thickness of the display stack while improving light transmission, potentially allowing for higher brightness without requiring a corresponding increase in power consumption.

Apple could finally hide Face ID and the camera

One of the longest-running iPhone rumors could also become reality in 2027.

Apple is reportedly continuing to work on under-display Face ID and camera technology. The goal would be to move the necessary sensors beneath the screen, eliminating the visible cutout that has remained part of the iPhone’s front design.

That would allow the display to occupy more of the front surface and potentially deliver the uninterrupted screen Apple has been working toward for years.

But this remains one of the biggest question marks surrounding the iPhone 20. Apple has reportedly been developing under-display Face ID for several years, with previous expectations repeatedly pushed back. Even if the technology is being tested internally, there is no guarantee it will be ready for a commercial launch in 2027.

The familiar buttons could become a thing of the past

Apple could also rethink the physical controls on the iPhone 20.

According to reports cited by MacRumors, Apple is testing solid-state replacements for the Side, Volume, Action and Camera Control buttons. Instead of physically moving when pressed, the controls would use haptic feedback to give users the sensation of pressing a button.

The approach could help Apple create a more seamless frame while reducing the number of moving components in the device.

It would also fit with the larger design direction reportedly being considered for the anniversary iPhone: fewer visible breaks in the exterior and a greater emphasis on a continuous glass-and-metal structure.

Apple could take greater control of the components

The changes may not stop with the exterior.

Apple has been working to reduce its reliance on outside suppliers for critical components, and the iPhone 20 could become an important showcase for that strategy.

Apple’s own modem technology has already begun appearing in lower-cost and newer devices through the C1 and C1X chips. Reports suggest that an Apple-designed modem could eventually reach the company’s premium iPhones in the United States, potentially giving Apple greater control over an important part of the phone’s hardware.

The camera system could undergo a similar shift. Apple is reportedly developing a custom stacked image sensor that could eventually replace Sony sensors used in its iPhones. According to reports, Apple has already produced a working prototype.

The sensor is said to use LOFIC technology, which could allow individual pixels to handle different amounts of light and potentially deliver significantly greater dynamic range. Whether those capabilities translate into a noticeable improvement in real-world photography will depend on the final hardware and Apple’s image-processing software.

A21 chip and new battery technology could boost performance

The anniversary iPhone is also expected to receive a new generation of Apple’s custom silicon.

If Apple’s naming cycle continues, the iPhone 20 could be powered by an A21 chip built using second-generation 2-nanometer technology. The A20 is expected to arrive with the iPhone 18 generation, making the A21 the logical successor for the 2027 flagship.

Apple is also reportedly evaluating mobile high-bandwidth memory using vertically stacked DRAM. Such a system could increase memory bandwidth, an increasingly important consideration as Apple pushes more artificial intelligence processing directly onto its devices.

Battery technology could receive an overhaul as well. Apple is reportedly investigating silicon-anode batteries, which can store more lithium ions per gram than traditional graphite-based designs. If commercialized, the technology could provide additional battery capacity without requiring a larger battery.

Two familiar sizes could remain

Despite the potential changes, Apple is not expected to completely rethink the iPhone’s physical dimensions.

The anniversary models are reportedly expected to come in sizes broadly comparable with the iPhone 18 Pro and iPhone 18 Pro Max, with displays of approximately 6.3 inches and 6.9 inches.

That would allow Apple to introduce a dramatically different design without forcing customers to adjust to an entirely new size category.

Apple’s product ambitions go well beyond the iPhone

The iPhone 20 is only one part of a much larger hardware roadmap reportedly taking shape at Apple.

Bloomberg’s reporting on Apple’s longer-term product plans indicates that the company is exploring a tabletop robotic version of its smart home hub for 2028. The device could have a roughly 9-inch screen and a robotic arm that moves the display to interact with users and assist with activities such as FaceTime calls.

Apple is also reportedly working toward a more powerful Mac Studio using an M7 Ultra chip, while a lighter redesign of the Vision Pro headset could arrive around late 2028 or early 2029.

Another more experimental project involves a potential AI pendant equipped with a camera. The device could be worn around the neck or clipped to clothing and would reportedly use the iPhone as part of its broader computing system. The concept would give Apple another way to deliver AI features without requiring users to wear glasses or earbuds.

Foldable devices remain another major possibility. Bloomberg has reported that Apple is discussing a larger third-generation foldable iPhone for 2028. The company has also previously explored a foldable iPad with a display approaching 20 inches, although that project has faced manufacturing, pricing and practicality problems.

A milestone device — if Apple can deliver

MacRumors’ latest reporting on the iPhone 20 points to a collection of technologies that, taken together, could make the anniversary model far more than a routine annual upgrade.

The list includes a quad-curved glass design, thinner bezels, potentially hidden Face ID and camera hardware, solid-state buttons, a new OLED display, an Apple-designed modem, a custom image sensor, a next-generation A21 processor, new battery technology and faster memory.

But there is still a significant amount of time between Apple’s current development work and a September 2027 launch. Features can be delayed, redesigned or abandoned before they reach production, particularly when they involve technologies as complicated as under-display sensors and new display architectures.

MacRumors itself cautions that Apple’s plans can change and that some ambitious features have a history of slipping by a year or more.

Still, the direction is clear. If even a substantial portion of these reported technologies makes it into the final product, the iPhone 20 could become Apple’s most ambitious smartphone redesign since the iPhone X.

For a company that has spent much of the past 15 years refining established product categories while building recurring revenue through services, the anniversary iPhone could offer a chance to make a much bigger statement about where its flagship hardware is headed next.

Dubai hotel occupancy climbs to 66% in August as tourism picks up

Hotels recorded 21.61 million occupied room nights between January and August, while the city’s hotel inventory approached 149,000 rooms by the end of August

Neesha Salian
Neesha Salian

14 September, 2026

Dubai hotel occupancy climbs to 66% in August as tourism picks up
Image: Dubai Media Office/ For illustrative purposes

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Dubai’s hotel occupancy rose to 66 per cent in August, as international visitor numbers continued to rise, the Dubai Department of Economy and Tourism (DET) said in a statement.

Occupancy in August reached 89 per cent of the level recorded in the same month last year and was up from 36 per cent in March, according to figures released by DET on the opening day of Arabian Travel Market (ATM) 2026.

Dubai welcomed about 869,000 international overnight visitors in August, its highest monthly total since February, taking international arrivals in the first eight months of 2026 to 6.97 million, DET said.

Hotels recorded 21.61 million occupied room nights between January and August, while the city’s hotel inventory approached 149,000 rooms by the end of August.

Western Europe remained Dubai’s largest visitor source region in the first eight months of the year, accounting for 20 per cent of arrivals, followed by South Asia at 17 per cent, the Gulf Cooperation Council countries at 16 per cent, and the Commonwealth of Independent States and Eastern Europe at 14 per cent.

“The results so far this year reflect the continued efforts of everyone who contributes to Dubai’s visitor economy, from our global hospitality and tourism partners to the people across the city who co-create the experience visitors come here to enjoy,” Issam Kazim, chief executive of Dubai Corporation for Tourism and Commerce Marketing, said in a statement.

Dubai continues to welcome rising number of international visitors: DET

Kazim said Dubai continued to welcome international visitors at significant scale, supported by a diverse source-market mix, hospitality infrastructure and an evolving tourism offering.

Dubai said tourism, hospitality and entertainment businesses had benefited from government support measures that formed part of Dhs2.5bn in economic incentives introduced earlier this year following regional disruption that affected travel and business activity.

The recent DET-driven ‘A Dubai Invite’ also encouraged Dubai residents from almost 200 nationalities to invite family and friends to experience the city, with over 90,000 residents applying for benefits through the programme.

DET said Emirates had restored 97 per cent of its global network, while load factors at Dubai International Airport were approaching 2025 levels as international connectivity continued to recover.

The department is participating in ATM with more than 115 co-exhibitors from across Dubai’s tourism ecosystem, including hotel groups, attractions, destination management companies, aviation partners and government entities.

DET is also hosting more than 300 international travel trade professionals from over 40 countries through its ATM Hosted Buyers Programme.

The 33rd edition of Arabian Travel Market runs from September 14 to September 17 at Dubai World Trade Centre.

Read: DXB traffic recovery gathers pace as passenger volumes climb through Q2

AI extinction risk: OpenAI’s Sam Altman now rules out 2026 IPO

OpenAI CEO Sam Altman has ruled out an IPO in 2026, saying AI safety concerns and the potential risk of human extinction must take priority over going public

Reuters
Reuters

13 September, 2026

AI extinction risk: OpenAI’s Sam Altman now rules out 2026 IPO

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OpenAI will not go public in 2026, chief executive Sam Altman said in remarks published on Saturday, citing safety concerns over artificial intelligence that render “unacceptable” even a 10 per cent risk that AI could cause human extinction by decade’s end.

The comments come as more US lawmakers urge new rules to govern AI systems after dire warnings from two researchers from OpenAI rival Anthropic that rapidly progressing AI could lead to the extinction of the human race ‌in the not-too-distant future.

“I actually think that, given everything happening with safety, right now would be an ill-advised moment to go public, and we don’t feel pressure on that,” Altman told business magazine Fortune.

Asked if there was a 10 per cent chance of AI-driven extinction, Altman said he did not know how such an estimate could be made, but warned the risk was serious enough that AI companies and governments should act as though it could not be tolerated.

“Whether it’s 10 or eight or six, the point is, we all have a tremendous amount of responsibility, and cannot let egos or incentives for profit or anything else get in the way,” Altman added.

“We need to act such that we are not taking any of those numbers of risk, and I believe we can.”

AI agents going rogue

Politicians, both Democrat and Republican, have responded with alarm and calls for more action after cases of AI agents going rogue to hack external systems and AI ​safety researchers quitting their companies out of concern at the technology risks.

In June, the New York Times said San Francisco-based OpenAI was considering whether to hold off until next year on a potentially trillion-dollar IPO.

At the time, shares in Elon Musk’s SpaceX IPO were tumbling after a surge that sent that company’s valuation to $1.8 trillion.

Asked by Fortune if an IPO date of 2026 was off the table in favor of 2027, Altman said, “I would say not 2026.

“We got a lot of stuff to do, like meeting this moment of what is going to be required for safety and alignment, and how the industry and governments can work together.”

Altman also suggested that OpenAI and other leading AI firms may be close to unveiling a pact to slow AI development and work together to tackle safety risks, Fortune said.

Call for responsible approach

On Saturday, Anthropic CEO Dario Amodei urged AI companies to take a more deliberate approach to development.

“We must slow the ‌pace at which we improve the capabilities of AI models,” Amodei wrote in an essay on X.

View post on X

Altman later posted that he agreed with the sentiment.

“I agree with Dario that we need to pace the frontier,” Altman wrote. “This has been a primary topic of discussions we’ve had at OpenAI in recent weeks.”

View post on X

Safety concerns have not slowed Anthropic’s own IPO plans. It is expected to begin marketing its initial public offering in mid-October at the earliest and complete the listing days before the U.S. midterm elections in November, people familiar with the matter told Reuters this month.

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