OpenAI Targets $30 Billion Ahead of Delayed IPO

OpenAI is seeking to raise at least $30 billion, with a valuation mentioned around $1.4 trillion, according to sources. This operation would be a step towards an initial public offering (IPO), as Sam Altman now rules out an IPO in 2026 to focus on AI safety. Recurring revenues reportedly surged significantly this summer.

A funding round seen as a transition to the IPO, with no set timeline

The planned funding round would serve as a transition towards an IPO, if it materializes, according to reports. Sam Altman has dismissed an IPO in 2026, stating that he wants to prioritize AI safety. OpenAI did not respond to a request for comment. The published information was released on a Tuesday.

Targeting $30 billion for a $1.4 trillion valuation, following a record round

OpenAI is currently in negotiations with investors to raise at least $30 billion in a funding round preceding its IPO, aiming for a valuation around $1.4 trillion, according to sources. These investors are looking to provide additional capital ahead of a possible public offering expected next year. In March, OpenAI raised $122 billion for a valuation of $852 billion, a round that was then presented as the last before an IPO that was anticipated this year until recently.

Significant revenue increase and competitive pressure from Anthropic

OpenAI's strategic shift towards sectors such as coding has allowed the company to increase its recurring revenues by 70% since July, reaching $40 billion in August, according to reports. Earlier this year, Anthropic temporarily surpassed OpenAI. In this context, Sam Altman told Fortune that he considers it unacceptable to take a 10% risk of killing everyone by the end of the decade, in response to warnings from safety researchers about the existential risks of AI.