OpenAI targets $1.2 trillion valuation in new investor funding round

OpenAI funding talks could value the ChatGPT maker at around $1.2 trillion as investors explore another major private capital raise.

SAN FRANCISCO: OpenAI is reportedly in early discussions with major investors about a new funding round that could value the ChatGPT maker at around $1.2 trillion, potentially marking another dramatic increase in the artificial intelligence company’s private market valuation.

The OpenAI funding talks are still at an early stage and the proposed valuation could change over the coming months, the Financial Times reported, citing people familiar with the discussions. Reuters subsequently reported the development, while OpenAI declined to comment.

Why the $1.2 trillion figure matters

A valuation of around $1.2 trillion would represent a significant jump from OpenAI’s most recent financing.

In March 2026, OpenAI officially announced that it had closed a funding round with $122 billion in committed capital at a post-money valuation of $852 billion. A $1.2 trillion valuation would therefore represent an increase of roughly 41 per cent from that level.

Importantly, no new round has been finalised at the reported valuation.

The latest conversations were initiated by investors rather than OpenAI, according to the Financial Times report, highlighting continued investor interest in gaining exposure to one of the world’s biggest artificial intelligence companies.

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Another funding round before an IPO?

The timing of any potential OpenAI funding round could depend partly on when the company decides to pursue an initial public offering.

Chief Executive Sam Altman has said OpenAI will not go public in 2026. Reuters reported that Altman cited concerns surrounding AI safety when discussing the timing of a future listing.

That leaves private fundraising as one possible way for the company to secure additional capital before an eventual public-market debut.

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AI growth requires enormous investment

Building increasingly capable artificial intelligence systems requires substantial spending on computing infrastructure, data centres, chips and research.

OpenAI said when announcing its March financing that durable access to computing power was a strategic advantage supporting research, products and broader access to its technology.

The company’s products include ChatGPT, its API platform and Codex, placing it at the centre of the global race to develop and commercialise advanced AI systems.

What happens next?

The reported $1.2 trillion figure should currently be viewed as a potential valuation being discussed rather than an agreed company valuation.

Any financing terms, participating investors and final valuation could still change, and OpenAI has not publicly confirmed that it will proceed with the proposed fundraising.

For now, the OpenAI funding discussions offer another indication of the extraordinary amounts of private capital being considered for companies competing at the frontier of artificial intelligence.

Impact to expect

A successful funding round at this scale could provide OpenAI with additional capital for costly AI infrastructure and research while potentially delaying its need to access public markets.