OpenAI is reportedly considering another major fundraising round that could value the company at around $1.2 trillion, as investor interest in the ChatGPT maker remains strong ahead of its anticipated stock market debut.
Discussions with major investors are still at an early stage and no final decision has been made, according to reports citing people familiar with the matter. The talks were reportedly initiated by investors seeking greater exposure to OpenAI before a possible initial public offering.
The proposed valuation could also change as discussions continue. OpenAI has declined to comment publicly on the latest fundraising report.
A successful deal at around $1.2 trillion would represent another dramatic increase in OpenAI’s value.
In March, the company completed a funding round with $122 billion in committed capital at a post-money valuation of $852 billion. OpenAI said the money would support the enormous computing infrastructure required to develop and operate increasingly advanced artificial intelligence systems.
That round followed an earlier announcement in February involving $110 billion in new investment commitments from Amazon, Nvidia and SoftBank. At the time, OpenAI said demand for artificial intelligence among consumers, developers and businesses was increasing rapidly and that additional computing power and capital would be needed to meet that demand.
The latest fundraising discussions come as questions continue over when OpenAI will go public.
Chief Executive Sam Altman recently confirmed that an IPO will not take place in 2026. He cited growing concerns surrounding AI safety and said the company did not feel pressured to rush into a public listing.
Raising additional private capital could therefore give OpenAI more flexibility to delay its IPO while continuing to finance its expansion.
The company could also use fresh capital to pursue further acquisitions. OpenAI has spent billions of dollars acquiring companies and technology as it expands beyond its original focus on artificial intelligence research into software development, enterprise services, consumer products and hardware.
Its acquisitions have included io, the artificial intelligence hardware venture associated with former Apple design chief Jony Ive, as well as Astral, a developer of widely used Python software tools.
OpenAI is also expanding aggressively into specialised business applications. It recently launched ChatGPT for Financial Services, a platform aimed at investment banks, research firms and other financial institutions. The product combines OpenAI’s AI technology with financial information from several major data providers.
The potential fundraising also comes amid an intensifying competition between OpenAI and Anthropic.
Anthropic, the company behind the Claude AI assistant, raised funds in May at a valuation of about $965 billion and is itself preparing for a possible public listing. A new OpenAI round at more than $1.2 trillion would underline the extraordinary valuations investors are placing on leading artificial intelligence companies.
Despite the huge valuations, developing advanced AI remains extremely expensive. Companies require enormous investments in data centres, specialised chips, electricity and other computing infrastructure to train and operate their models.
OpenAI has therefore continued to seek large amounts of outside capital even as revenue from ChatGPT subscriptions, enterprise services and other products expands.
For now, the proposed funding round remains under discussion. Its eventual size, participating investors and final valuation could change before any agreement is reached.
If completed near the valuation currently being discussed, however, the transaction would mark another major milestone in OpenAI’s rapid transformation from an artificial intelligence research organisation into one of the world’s most valuable technology companies.
