Key Takeaways
- OpenAI is discussing a private funding round at a $1.2 trillion valuation.
- The company previously closed $122 billion in committed funding this year.
- OpenAI’s annualised revenue recently crossed $40 billion after GPT 5.6 launched.
OpenAI is holding early discussions with major investors for another private funding round that could value the company at about $1.2 trillion. The talks come months after the ChatGPT developer closed a $122 billion funding round at an $852 billion post-money valuation. The company is also reporting annualised revenue above $40 billion.
OpenAI Revenue Rises As Funding Needs Expand
OpenAI’s annualised revenue recently crossed $40 billion, following a reported 20% increase after the launch of GPT 5.6. The company has continued to invest heavily in computing capacity and data centre infrastructure to support its AI products.
OpenAI spent about $34 billion last year on data centres and computing power. The spending highlights the capital requirements involved in developing and operating large AI systems.
The latest funding discussions follow several major financing developments during 2026. OpenAI announced a $110 billion investment round in February at a $730 billion pre-money valuation, adding another major milestone to its rising OpenAI valuation. SoftBank and Nvidia each committed $30 billion, while Amazon committed $50 billion.The company later said it had closed $122 billion in committed capital at an $852 billion post-money valuation in March.
The proposed new financing could lift OpenAI’s valuation to about $1.2 trillion if the discussions result in a completed transaction. The current talks are still at an early stage, so the final size and valuation of the round could differ.
For businesses and investors tracking the AI sector, the financing activity highlights the capital requirements associated with AI development. OpenAI’s reported revenue growth is occurring alongside significant spending on computing infrastructure.
Private Funding Keeps IPO Timing Flexible
OpenAI has continued to rely on private capital while evaluating its longer-term financing options. Chief Executive Officer Sam Altman has said the company does not plan to go public in 2026, keeping the OpenAI valuation discussion focused on private funding and investor interest.
A private funding round allows a company to raise additional capital without immediately entering public markets. Existing investors can also continue holding their stakes while the company raises new funds at a higher valuation, potentially increasing the OpenAI valuation as demand from investors grows.
OpenAI previously filed a confidential prospectus for a potential initial public offering. Company executives have pointed to 2027 as a possible timeline for a public market debut, which could eventually provide another reference point for the OpenAI valuation.
Rival AI company Anthropic has also considered a public offering, adding another potential technology listing to the AI sector.
OpenAI and Anthropic have also discussed stronger controls around AI development, with safety and security remaining areas of focus for the companies.
For entrepreneurs and business owners, OpenAI’s funding activity provides a clear view of the financial scale of the AI industry. The company has moved from an $852 billion post-money valuation earlier this year toward discussions around a potential $1.2 trillion valuation within months, highlighting the rapid rise in OpenAI valuation.
The proposed financing remains under discussion. Until investors and OpenAI reach a final agreement, the reported $1.2 trillion figure remains a potential valuation rather than a completed transaction, meaning the final OpenAI valuation could differ from the figure currently being discussed.
Sources: https://www.ft.com/content/27509db8-b032-4437-9b2a-e909f466022f?syn-25a6b1a6=1
