OpenAI Weighs $1.2 Trillion Private Round as Revenue Tops $40 Billion Before IPO
Updated
Updated · Financial Times · Sep 15
OpenAI Weighs $1.2 Trillion Private Round as Revenue Tops $40 Billion Before IPO
3 articles · Updated · Financial Times · Sep 15
Summary
OpenAI has begun early talks with investors about a new private fundraising that could value the company at about $1.2 trillion, after raising capital in March at an $852 billion valuation.
Annualised revenue passed $40 billion last month after a 20% jump tied to the launches of GPT-5.6 in July and Astra this month, reviving growth after a slower start to the year.
The timing of any deal depends on when OpenAI pursues its IPO; Sam Altman said over the weekend a listing is unlikely before 2027, even though the company confidentially filed in June.
Fresh capital would let backers such as SoftBank and Thrive increase exposure, while helping fund a business that spent $34 billion last year and continues to burn cash training models.
The fundraising talks also come as competition intensifies: Anthropic reached a $965 billion post-money valuation earlier this year and is expected to seek a roughly $2 trillion IPO as soon as October.