The Verge · AIApr 29, 2026, 22:43 UTC+8

ChatGPT Downloads Are Slowing and May Affect OpenAI's IPO

ChatGPT downloads are slowing — and may cause problems for OpenAI’s IPO

Sensor Tower says ChatGPT uninstalls rose 132% year over year in April as users left or tried rivals. After OpenAI’s February Pentagon deal, last month’s uninstall rate rose 413%; MAU growth fell from 168% in January to 78% in April.

Why it matters: HKR-H/K/R all pass: the hook is ChatGPT growth slowing before an IPO, with Sensor Tower churn and MAU-growth figures. It stays below 85 because the data is third-party mobile analytics, not OpenAI financials or a product launch.

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Take

OpenAI’s IPO story is running into consumer-app math: ChatGPT uninstalls rose 132% YoY in April, while MAU growth fell from 168% in January to 78% in April. That is not a minor download-chart wobble. It is retention pressure showing up at the front door.

The uglier hook is the Pentagon timing: Sensor Tower says uninstall rate rose 413% YoY after the February deal. That data does not prove users left because of defense work, and it is not paid retention. Still, the timing is bad for a company trying to sell ChatGPT as the default consumer AI layer while also selling governments and enterprises. IPO buyers will not stop at “huge user base.” They will ask about churn, paid conversion, and migration to Claude, Gemini, Perplexity, or embedded OS assistants. ARPU and paid retention are not given, and that is the hole.

Source: The Verge · AI · theverge.com
Published: Apr 29, 2026, 22:43 UTC+8 · Apr 29, 2026