OpenAI Discusses Funding at $1.2 Trillion Valuation Ahead of IPO: Report
OpenAI has held preliminary talks with large investors about a new funding round that could value the ChatGPT maker at about $1.2 trillion, the Financial Times reported on Tuesday.
Investors initiated the discussions, which remain at an early stage, and the valuation could change in the coming months, the report said, citing people familiar with the matter. OpenAI declined to comment.
The figure would represent an increase of about 41%, or $348 billion, from the $852 billion valuation OpenAI secured when it closed a funding round in March. That transaction involved $122 billion in committed capital, the company announced on March 31.
The discussions come as OpenAI pushes back the prospect of a stock-market debut. Chief Executive Officer Sam Altman said in a Fortune interview published Sept. 12 that the company would not go public in 2026, citing concerns about artificial intelligence safety. His comments rule out a listing this year without establishing a firm date for an offering.
Another private round would provide an additional source of financing before a public listing as OpenAI expands the computing infrastructure behind its products. In its March announcement, the company identified access to computing capacity as central to its research and commercial growth.
Amazon, Nvidia and SoftBank anchored the March financing, with Microsoft also participating. OpenAI said at the time that it was generating $2 billion in monthly revenue and that business customers accounted for more than 40% of revenue, underscoring its expansion beyond consumer subscriptions.
Rival Anthropic is pursuing a nearer-term route to public markets. Reuters reported earlier this month that it was expected to begin marketing its IPO in mid-October at the earliest and complete the listing days before the US midterm elections in November. That timetable remains a reported plan rather than a completed transaction.
