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...