OpenAI is seeking to raise at least $30 billion in a new funding round that could value the artificial intelligence company at around $1.4 trillion before the fresh capital is included, according to reports citing people familiar with the discussions.
The talks are at an early stage and the size, valuation and other terms could still change. Investor demand is reportedly driving interest in the round as OpenAI continues to expand its business while pushing back plans for an initial public offering.
The proposed financing is expected to function as a bridge round after OpenAI decided against pursuing a public listing in 2026. Chief Executive Sam Altman said in September that the company would not go public this year, with AI safety among the considerations behind the timing of a potential listing.
If completed at the reported valuation, the round would represent another significant increase in OpenAI's private-market value. The company closed a funding round in March with $122 billion in committed capital at a post-money valuation of $852 billion. Bloomberg had previously reported that OpenAI was considering another financing at a valuation of about $1.2 trillion.
The latest fundraising discussions come as OpenAI's revenue expands alongside the adoption of its consumer and enterprise AI products. Its annualised revenue run rate is approaching $70 billion, having increased by more than 70% since the beginning of the third quarter, according to reports.
OpenAI has been expanding beyond its core ChatGPT offering as competition intensifies across enterprise AI, coding and AI agents. The company recently introduced Dots, persistent AI agents designed to continue working on projects across connected applications, as it develops products intended for longer-running and more autonomous workflows.
At the same time, building and operating advanced AI models requires substantial spending on computing infrastructure, data centres and chips. Raising additional private capital would provide OpenAI with funding to continue expanding its infrastructure and developing new models without immediately turning to public markets.
The company is competing with other well-funded AI developers, including Anthropic, as businesses increase spending on generative and agentic AI systems. Competition has expanded from model performance into enterprise adoption, developer tools, infrastructure and the ability to finance increasingly expensive AI development.
OpenAI has not publicly confirmed the proposed $30 billion round, and the reported discussions may not result in financing on the terms currently under consideration. The potential deal nevertheless signals continued investor appetite for large private AI companies despite the substantial capital required to build and operate frontier AI systems.
Disclaimer: This article may include information derived from interviews, press releases, public statements, research, company communications and other publicly available or third-party sources. Such material may be summarised, paraphrased or contextualised for journalistic and editorial purposes. All rights in third-party content remain with their respective owners.