OpenAI targets US$30b raise at US$1.4t valuation: Bloomberg

OpenAI is seeking at least US$30 billion in a new funding round at a valuation of about US$1.4 trillion, excluding the new capital, according to a Bloomberg News report. The early-stage talks would serve as bridge financing ahead of a possible IPO, which CEO Sam Altman has ruled out for 2026.

SINGAPORE (Sept 30): OpenAI is seeking to raise at least US$30 billion in a new funding round, with a valuation of about US$1.4 trillion excluding the new money, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The fundraising discussions are at an early stage and terms could change, Bloomberg said, adding that demand for the round is being led by investors. The proposed round would serve as bridge financing to provide capital in place of an initial public offering, the report said.

OpenAI did not immediately respond to a Reuters request for comment. The company had closed a funding round in March with US$122 billion in committed capital, valuing it at US$852 billion.

CEO Sam Altman said earlier this month that the company would not go public in 2026, citing safety concerns over artificial intelligence. OpenAI's annualised revenue run rate is nearing US$70 billion, having risen more than 70 per cent since the beginning of the third quarter, Reuters reported earlier on Tuesday.