OpenAI is reportedly preparing to stretch its private-market runway once again, seeking at least $30 billion in a pre-IPO round that could value the ChatGPT maker at roughly $1.4 trillion.¹

The prospective deal follows a dramatic escalation in the company’s financing. In March, OpenAI raised $122 billion at an $852 billion valuation — a round that had been expected to be its last before going public.¹ At the time, an IPO had been anticipated this year.

But the timetable has shifted. Bloomberg, as reported by TechCrunch, says investors remain eager to back OpenAI ahead of an expected public-market debut next year, while the new raise would serve as a bridge to that eventual listing.¹

The commercial case is clear: after Anthropic briefly pulled ahead early in the year, OpenAI refocused on areas including coding. That strategy reportedly helped lift annualized revenue 70% since July, to $40 billion in August.¹

Yet Sam Altman has framed the delay as more than a financing calculation. The CEO has ruled out a 2026 public debut in order to prioritize AI safety, responding to existential-risk warnings with a stark assessment: “I think it is unacceptable to be taking like a 10% chance of killing everybody by the end of the decade.”¹

For investors, the proposed round offers another chance to buy into OpenAI’s growth before a flotation. For Altman, it is also time — and capital — to avoid letting a public-market clock dictate the company’s safety decisions. OpenAI did not respond to a request for comment.¹