Key Insights:
- OpenAI’s valuation target is rising sharply, moving from $852 billion in March toward a proposed $1.4 trillion.
- The new funding may further delay the IPO, providing OpenAI with additional resources for infrastructure and product development.
- The valuation of AI companies could change with the possibility of Anthropic going public.
OpenAI is looking to raise at least $30 billion from investors at a valuation close to $1.4 trillion, people who were involved in the talks said. The proposed financing would provide fresh capital after the company postponed its planned public listing and could push its private valuation above Anthropic’s latest market value.
The talks remain at an early stage, and the final terms could change, Bloomberg reported. Investor demand is reportedly driving the fundraising effort as revenue growth accelerates across the company’s commercial business.
LATEST: 💰 OpenAI is targeting a $30B funding round that would value the company at $1.4T, up from its $852B valuation in March, per Bloomberg. pic.twitter.com/8Am7KVDANA
— CoinMarketCap (@CoinMarketCap) September 30, 2026
Funding push follows IPO delay
The proposed round comes after OpenAI Chief Executive Sam Altman said the company would not go public in 2026. Altman cited concerns about artificial intelligence safety and the challenges created by increasingly capable AI systems.
The decision changed the company’s near-term financing strategy. Rather than relying on an immediate stock market listing, the proposed funding round could supply additional capital before a future IPO.
The company previously closed a major financing round in March. That round involved $122 billion in committed capital and valued the company at $852 billion, including the new investment.
Bloomberg previously reported that the company was considering another financing round at a $1.2 trillion valuation. The latest proposal would raise that target to about $1.4 trillion before the new capital enters the company.
Revenue growth raises investor demand
Meanwhile, the company’s financial performance has strengthened during the fundraising discussions. Its annualized revenue run rate surpassed $40 billion during the summer, according to Bloomberg.
A separate Reuters report put the annualized revenue run rate near $70 billion. Reuters also reported that revenue had climbed more than 70% since the beginning of the third quarter.
Those figures highlight the rapid expansion of demand for generative AI services. The company has also continued expanding its commercial product lineup as competition intensifies across enterprise AI.
Recent product moves include an always-on AI agent called Dots and a $500 subscription tier. These offerings add new revenue channels while the company competes for business customers against other frontier AI developers.
The funding discussions therefore arrive during a period of rapid commercial expansion rather than a slowdown in demand.
Anthropic Changes the IPO Equation
The proposed financing also comes as Anthropic prepares for a potential public listing. Both companies have filed confidential paperwork related to potential IPOs, according to reports.
Anthropic could pursue its listing as soon as November. Its prospectus reportedly outlines plans involving $518 billion in cloud computing and infrastructure spending.
The company could also seek a public valuation above $2 trillion, according to reports. That potential valuation would reshape comparisons between the two leading private AI companies.
The broader IPO market has also shown signs of caution. Oura and SoftBank-backed SB Energy have delayed planned listings, while analysts expect cloud startup NScale could postpone its investor roadshow.
In that context, private funding is another way for big AI firms to secure investment without being open to the public markets in the first place.
What the funding could signal
The financing has a number of ramifications for the AI industry as investors reconsider the pace at which the leading AI businesses should move to public markets.
The proposed $30 Billion round would also provide the company with significant computing power and product development and commercial expansion. However, the discussions remain preliminary, meaning the valuation, funding size and timing could change.
The financing effort also reflects a wider shift in AI capital markets. Private investors continue providing enormous amounts of capital to companies building large-scale AI infrastructure and products.
The proposed valuation would also raise the stakes for OpenAI’s eventual public listing.A private valuation of $1.4 trillion will establish greater expectations for the future growth in revenue, profitability and investor returns when the company goes public.
In the meantime, an Anthropic IPO would provide investors with a better way to compare two big AI firms. The public-market listing would offer investors fresh financial yardsticks to gauge valuations and growth potential for top artificial intelligence companies.
Conclusion
The financing would be another significant milestone in the company’s quick growth in the private sector. OpenAI started March with a $852 billion valuation, and could be seeking a $1.4 trillion valuation within a few months.
Investors will see a stark contrast between ongoing private IPOs and the potentially unpredictable arrival of big tech stocks in the public markets. The final result will be determined by negotiations, and how the company’s revenue increases and the market develops in relation to its future public listing.
