OpenAI seeks $30 billion funding round at valuation up to $1.4 trillion

What happened

OpenAI is reportedly working on a new private funding round to raise up to $30 billion [1, 2]. Reports on the company’s target valuation vary: CNBC reports the lab is working toward a $1.25 trillion pre-money valuation [1], while Bloomberg and other reports suggest a valuation exceeding $1.4 trillion [1, 2, 3].

Key details regarding the funding and company status include:

• OpenAI is negotiating terms for this round, which could change [1].
• Potential investors include Coatue, SoftBank Group, and Abu Dhabi-based MGX [1, 2].
• CNBC reports that funding from the UAE could be linked to a deal for more computing capacity [1].
• OpenAI’s last funding round in March 2026 valued the company at $852 billion post-money [1, 2].
• The company filed confidential paperwork for an IPO in June [1].
• OpenAI is reportedly presenting an annualized revenue run-rate between $50 billion and $70 billion [2, 3].
• The $50 billion revenue figure follows the launch of the GPT-6 Astra model [2].
• The company aims to secure this capital ahead of its rival Anthropic’s expected mid-November IPO [2].
• OpenAI is planning a public listing in 2027 [2].

This fundraising effort comes as OpenAI seeks to finance AI infrastructure investments and strengthen its balance sheet [2]. The company has also reduced prices for its lower-cost AI models to increase usage [2].

This move occurs alongside competition from Anthropic. Anthropic reportedly seeks a valuation between $1.5 trillion and $2 trillion for its public debut [1]. Anthropic reported annualized revenue of approximately $65 billion in July, with quarterly revenue rising from $11.6 billion in the second quarter to $16.8 billion in the third quarter [2]. Anthropic also filed confidential paperwork in June [1].

Who is affected

• Investors: Firms like Coatue, SoftBank Group, and MGX are reportedly in discussions to participate [1, 2].
• The AI Industry: The valuation of OpenAI could set the bar for Anthropic’s upcoming public market debut [1, 3].
• Technology Markets: The fundraising takes place during a period of volatility in technology stocks and rising bond yields [2].