OpenAI Eyes $1.2 Trillion Valuation in Pre-IPO Funding Round

OpenAI is reportedly considering a pre-IPO funding round with a valuation of $1.2 trillion, according to a Financial Times report citing sources familiar with the matter. The AI startup announced early discussions with investors about a private funding round ahead of its planned initial public offering (IPO) on September 15. OpenAI raised $122 billion in March and filed confidentially for its IPO in June, but the exact timing of the listing is still unclear.

The decision to pursue this new funding round depends on when OpenAI chooses to go public, said one source, adding that the talks were initiated by investors, not the company. OpenAI hopes to capitalize on the increased demand for its products following the release of its latest models, GPT-5.6 in July and Astra earlier this month.

These models have contributed to the company's revenue growth, which has rebounded after a slow start to the year. In March, rival Anthropic overtook OpenAI in terms of valuation. OpenAI CEO Sam Altman stated that the IPO is unlikely to happen before 2027 due to growing concerns about the existential risks associated with AI. Altman and other AI leaders have called for a slowdown in the development of the technology.

PYMNTS CEO Karen Webster argued that the warnings about AI's dangers don't align with the companies' actions, suggesting that the gap between their statements and behavior is a key point in the debate.