OpenAI targets $30 billion funding round at $1.4 trillion valuation

OpenAI is targeting at least $30 billion in a new funding round that would value the company at around $1.4 trillion, according to Bloomberg, citing unnamed sources. The discussions are at an early stage and could change.

According to Bloomberg, the round is designed to give OpenAI additional runway while it defers a public listing. CEO Sam Altman has said the company is stepping back from a public offering this year, describing the timing as "ill-advised" given OpenAI's ongoing work on AI safety. Investors are driving interest in the round, one person said, pointing to the company's robust revenue momentum.

The $1.4 trillion pre-money valuation would represent a significant step up from OpenAI's most recent fundraise. The company closed a $122 billion round in March at a post-money valuation of $852 billion — at the time the largest in Silicon Valley history — anchored by SoftBank, Amazon, and Nvidia. The new valuation would also surpass Anthropic's most recent private market valuation, according to Bloomberg, which previously reported OpenAI had been considering a new round at $1.2 trillion.

The company's annualized revenue has climbed past $40 billion, a figure that reflects 70% growth since July, Bloomberg reported. The outlet also reported that OpenAI has trimmed some of the usage allowances available to subscribers on its $200 plan.