OpenAI is in discussions to raise at least $30 billion in a new funding round, a move that would value the ChatGPT developer at approximately $1.4 trillion before the new capital is added, according to a Bloomberg News report on Tuesday. The financing is expected to serve as a bridge round, effectively postponing any near-term initial public offering as the company prioritizes AI safety concerns and intensifies its rivalry with Anthropic.
The proposed valuation marks a significant jump from the $852 billion valuation OpenAI commanded in March, when it raised $122 billion. Bloomberg had earlier reported that OpenAI was considering a valuation of around $1.2 trillion for this round. People familiar with the matter, who requested anonymity because the talks are private, said the discussions are still at an early stage and terms could change. Investor demand is reportedly driving the fundraising effort.
OpenAI declined to comment on the report. The new capital would provide a financial cushion as the company defers a public listing. CEO Sam Altman recently stated that OpenAI would not go public this year, describing the current environment as an "ill-advised moment" for an IPO, and emphasizing the need to focus on AI safety.
Revenue acceleration and product push
The fundraising comes as OpenAI works to demonstrate that its heavy spending on AI infrastructure can translate into sustained commercial growth. According to Axios, OpenAI's annualized revenue run rate is nearing $70 billion, up more than 70% since the start of the third quarter, with enterprise sales more than doubling since July. Earlier in the summer, Bloomberg reported that the run rate had surpassed $40 billion.
To sharpen its competitive edge, OpenAI has been refining its product strategy. At its developer event on Tuesday, the company introduced an always-on AI agent called Dots, directly challenging Meta Platforms' Muse. OpenAI also unveiled a new $500-per-month premium subscription tier with higher usage limits and faster processing, while reducing limits on its $200 plan. Coding-related products have emerged as a key growth area, and the company continues to invest heavily in AI agents capable of handling more complex tasks.
Anthropic's IPO ambitions
Meanwhile, Anthropic is preparing for a potential IPO that could value the company at more than $2 trillion, according to Reuters. Such a listing would test how public markets value leading AI companies and could set a benchmark for OpenAI. Anthropic's IPO prospectus argues that AI could reshape the global economy more profoundly than industrialization, electricity, or the internet. The company reported a net loss of $42 billion in 2025 and expects to spend $518 billion on cloud, computing, and infrastructure obligations in the coming years. Revenue, however, grew 12-fold in 2025 to nearly $4.6 billion, with an operating loss of over $8 billion excluding write-downs.
Both companies have confidentially filed for IPOs, with Anthropic potentially moving forward as soon as this fall. The competitive dynamics between the two firms are intensifying as they vie for corporate customers and investor attention.
This article is for informational purposes only and does not constitute financial advice.
