OpenAI Seeks at Least $30 Billion at $1.4 Trillion Valuation

OpenAI is reportedly seeking at least $30 billion in fresh funding at a valuation of about $1.4 trillion before the investment, as the ChatGPT developer turns to private investors after delaying plans for an initial public offering.

Bloomberg reported on Tuesday that the discussions are at an early stage and terms could change, citing people familiar with the matter. The financing would provide additional capital in place of an IPO. OpenAI declined to comment. The valuation sought is higher than the roughly $1.2 trillion figure Bloomberg reported earlier in September.

Raising $30 billion at the new target would imply a valuation of about $1.43 trillion including the fresh capital, above Anthropic's latest valuation in the private market.

The proposed round would follow a major financing just six months earlier. OpenAI announced on March 31 that it had closed a round with $122 billion in committed capital at an $852 billion valuation including the investment. Amazon, Nvidia and SoftBank anchored that financing, with Microsoft also participating. The earlier figures imply a valuation of $730 billion before the investment, meaning the new target would almost double that measure.

The fundraising efforts reflect the scale of investment behind the companies’ expansion. OpenAI has described access to computing capacity as central to developing and operating its products. Anthropic said its May financing would support research, expand computing capacity and help scale its products and partnerships.

For OpenAI, the latest talks would test investors’ willingness to back another substantial increase in its private valuation while a public listing remains on hold.