OpenAI is in early discussions with large investors about a new funding round that could value the ChatGPT maker at around $1.2 trillion, the Financial Times reported on Tuesday, citing people familiar with the matter.
The talks were reportedly initiated by investors and remain at an early stage, meaning the valuation could change. OpenAI declined to comment.
OpenAI raised $122 billion in committed capital in March, giving the company a valuation of about $852 billion. A $1.2 trillion valuation would represent an increase of roughly 41%.
The potential fundraising comes as OpenAI continues to invest heavily in AI models and computing infrastructure.
The company spent about $34 billion last year, while its annualised revenue crossed $40 billion following the launch of newer products.
CEO Sam Altman said on Saturday that OpenAI would not go public in 2026, citing concerns surrounding AI safety. An IPO is therefore increasingly being viewed as a possibility for 2027.
OpenAI and rival Anthropic have also been pushing for stronger AI regulation amid concerns over safety, security and misuse.
Anthropic is reportedly preparing for a potential IPO, with marketing possibly beginning in October.
For OpenAI, another private funding round could provide additional capital for its expansion while delaying the need to face public-market scrutiny.
However, the reported $1.2 trillion figure remains a potential valuation, with no confirmed deal size or closing date yet.
