OpenAI is in talks with investors to raise at least $30 billion in a pre-IPO funding round that would value the ChatGPT maker at roughly $1.4 trillion, Bloomberg reported on Tuesday. If completed, the raise would serve as a bridge round ahead of the company’s anticipated public market debut next year.
Investor appetite has been fueled by strong growth. Although Anthropic briefly outpaced OpenAI earlier this year, a strategic refocus on key areas such as coding has driven a 70% jump in OpenAI’s run-rate revenue since July, reaching $40 billion in August, according to the report.
The talks follow OpenAI’s $122 billion raise in March at an $852 billion valuation, which had been expected to be its final private round before an IPO planned for this year. CEO Sam Altman has since ruled out a 2026 listing in order to prioritize AI safety.
Responding to warnings from safety researchers that AI poses an existential risk to humanity, Altman recently told Fortune that accepting even a 10% chance of AI killing everyone by the end of the decade would be unacceptable.