OpenAI Reportedly Seeks $30B at $1.4T Valuation Before IPO
OpenAI is reportedly seeking at least $30 billion at a $1.4 trillion valuation as revenue surges and its planned IPO moves beyond 2026 amid AI safety concerns.
Summary
OpenAI was in talks on Tuesday, September 29, 2026, to raise at least $30 billion in pre-IPO financing at a roughly $1.4 trillion valuation. Investors are eager to back the ChatGPT maker before an anticipated 2027 public debut. After Anthropic briefly outpaced OpenAI early in 2026, a strategic refocus on areas including coding drove run-rate revenue up 70% since July to $40 billion in August.
OpenAI raised $122 billion in March at an $852 billion valuation, in what was intended to be its final private round before an IPO then expected in 2026. CEO Sam Altman has since ruled out a 2026 listing to prioritize AI safety, calling it unacceptable to accept roughly a 10% chance of AI killing everyone by the decade’s end after researchers warned of existential risk. The proposed financing would bridge OpenAI to its delayed IPO if completed. OpenAI has not commented on the talks.
Positives
- OpenAI’s run-rate revenue reached $40 billion in August, rising 70% since July after a strategic refocus that included coding.
- Investors remain eager to fund the ChatGPT maker before its anticipated 2027 public market debut.
- At least $30 billion in proposed financing could bridge OpenAI from private ownership to its eventual IPO.
- OpenAI previously secured $122 billion in March at an $852 billion valuation, demonstrating substantial access to private capital.
Risks & concerns
- The $30 billion round remains under discussion, and OpenAI has not commented on whether it will proceed.
- Sam Altman ruled out a 2026 IPO, overturning the company’s recently expected public listing timetable.
- Safety researchers have warned that advanced AI could pose an existential risk to humanity.
- Altman said accepting roughly a 10% chance of AI killing everyone by the decade’s end would be unacceptable.
- Anthropic briefly outpaced OpenAI early in 2026, underscoring competitive pressure despite OpenAI’s subsequent revenue growth.