OpenAI in Early Talks to Raise $30 Billion Before an IPO

OpenAI is in early talks with investors to raise a pre-IPO round and is targeting raising $30 billion, according to a person familiar with the matter.

The ChatGPT maker could seek a valuation around $1.4 trillion, though it hasn’t signed a term sheet yet with any investor, the person said.

The round, largerly driven by investors’ interest, comes before an expected IPO in 2027. OpenAI is seeing growth from selling to enterprise as its annualized revenue nears $70 billion in recent weeks, up around 70% from its revenue pace at the beginning of the third quarter. Bloomberg earlier reported on OpenAI’s fundraising plan.