Artificial intelligence giant OpenAI, the developer of ChatGPT, has selected an 88,000sq ft (8,175.5sq m) office development in Dublin’s south docklands as its new European headquarters.
The Sam Altman-helmed company, which has been on the hunt for a new hub in the capital over the past year, announced on Monday that it will take on the lease at Iput’s Tropical Fruit Warehouse scheme on Sir John Rogerson’s Quay.
OpenAI, in which Microsoft holds a roughly 27 per cent stake, said it will also create 250 new jobs in Dublin over the next two years as it builds out its European headquarters. The company employs about 100 people in the Republic, having established itself in Dublin in 2023.
“We continue to invest and grow in Ireland as we meet increasing demand across the region,” said Emma Redmond, head of OpenAI Ireland, in a statement. “Our new EU headquarters reflects our long-term commitment, helping businesses, developers and communities benefit from our innovation.”
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The company was understood to have narrowed its search for a new headquarters down to two locations earlier this year: the Tropical Fruit Warehouse and College Square, developed by Pat Crean’s Marlet Property Group.
At the Tropical Fruit Warehouse, OpenAI will take on space that was originally intended for TikTok’s expansion of its Irish operations. However, the Chinese-owned social media platform pulled back from those plans in late 2024, despite having signed a long-term lease for the building’s entire footprint of almost 7,800sq m.
On Monday, OpenAI said it plans to add 250 jobs in the Republic, where it claims to have more than one million ChatGPT users, across areas including sales, engineering, finance and legal.
“I warmly congratulate OpenAI on today’s announcement of 250 new jobs and the next phase of its growth in Ireland,” said IDA Ireland chief executive Michael Lohan.
“Ireland’s deep pool of multidisciplinary tech talent, strong research ecosystem and AI-native expertise make it an ideal location for OpenAI as it continues to scale its European operations from Dublin.”
Last month, OpenAI confidentially filed to go public on the US stock market in what is likely to be one of the biggest initial public offerings in Wall Street history.
[ Using ChatGPT to write an essay is a bit like using a forklift to lift weightsOpens in new window ]
However, the company said at the time that it had not yet decided on a timeline.
“It may be a while because there are things we want to do that are likely easier as a private company,” OpenAI said in a blog post. “But it’s a complicated set of trade-offs and this gives us the option to go public sooner if that ends up being best.”
While OpenAI is targeting a valuation of up to $1 trillion, questions remain about the company’s finances.
Audited figures, first reported by independent journalist Ed Zitron and verified by The Financial Times, indicate the company spent $34 billion in 2025 – the year in which it transformed from a non-profit to a for-profit company – and booked revenues of about $13 billion.
The company was generating monthly revenues of $2 billion by the end of 2025, but heavy spending drove an almost eightfold increase in net losses from $5 billion in 2024 to around $39 billion last year.
The Financial Times reported that a person familiar with the matter said the large majority of that jump reflected an accounting charge linked to the company’s previous structure as a non-profit rather than its underlying operations.
