OpenAI seeks $30B at $1.4T valuation as IPO gets pushed to 2027

OpenAI is seeking to raise at least $30 billion at a valuation of roughly $1.4 trillion after pushing its planned initial public offering into 2027, according to a Bloomberg report citing people familiar with the discussions.

The talks are still at an early stage and the terms could change. Bloomberg reported that investor demand is driving the round as OpenAI continues to post strong revenue growth.

The financing is expected to function as a bridge round, giving the company additional capital after CEO Sam Altman ruled out an IPO this year amid heightened concerns around AI safety.

A $1.4 trillion valuation would mark another sharp step up for OpenAI. The company most recently raised $122 billion in March at an $852 billion post-money valuation, according to the report. It had previously been considering a new financing at around $1.2 trillion.

OpenAI’s growth has also accelerated heading into the fundraising. Its annualized revenue is now approaching $70 billion, up more than 70% since the beginning of the third quarter, while enterprise sales have more than doubled since July, according to figures reported by Axios and confirmed separately by Reuters.

The latest round would also give OpenAI additional capital as it competes with Anthropic, which has moved further ahead with its own plans to enter the public markets.

Anthropic confidentially filed for an IPO in June and could seek a valuation above $2 trillion, according to a prospectus reviewed by Reuters. Its annualized revenue reached roughly $65 billion in July after generating $4.6 billion in revenue during 2025.

The prospectus also underscored the enormous capital requirements behind frontier AI. Anthropic disclosed roughly $518 billion in future cloud, computing and infrastructure obligations, while OpenAI is targeting around $600 billion in compute spending through 2030.

OpenAI and Anthropic have increasingly competed for enterprise customers as both companies try to turn rapid adoption of their AI models into sustainable businesses ahead of eventual public listings.

OpenAI has also been expanding its product lineup while its IPO waits. On Tuesday, the company launched Dots, an always-on AI agent powered by GPT-6 Astra that can operate across connected apps and its own cloud computer, putting OpenAI into more direct competition with Meta’s Muse.

The company also introduced a new $500-per-month premium subscription tier with higher usage limits and faster processing while adjusting limits on its existing $200 plan.

Despite delaying its IPO, OpenAI has already laid much of the groundwork for an eventual listing. The company and Anthropic are expected to provide public-market investors with some of the clearest financial disclosures yet on the revenue growth and extraordinary infrastructure spending behind the frontier AI industry.