OpenAI targets $30 billion funding at $1.4 trillion valuation, Bloomberg News reports

Sept 29 : OpenAI aims to raise at least $30 billion in a funding round and is seeking a valuation of about $1.4 trillion, not including the money raised, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Here are more details:

• The fundraising discussions are at an early stage and terms could change, Bloomberg reported, adding that the demand for the round is being led by investors.

• The proposed round would serve as a bridge financing to provide capital in place of an IPO, the report said.

• OpenAI did not immediately respond to a Reuters request for comment.

• The company had closed a funding round in March with $122 billion in committed capital, valuing it at $852 billion.

• OpenAI CEO Sam Altman said earlier this month that the company would not go public in 2026, citing safety concerns over artificial intelligence.

• OpenAI’s annualized revenue run rate is nearing $70 billion, having risen more than 70 per cent since the beginning of the third quarter, Reuters reported earlier on Tuesday.