OpenAI considers new financing at $1.5 trillion valuation
A completed transaction would double the company's valuation after an earlier round closed in March.
OpenAI is considering a new financing round that would establish it as the most valuable private business in the world.1 If completed, the proposed transaction would roughly double the company’s recorded value.1 The discussions indicate that private technology valuations continue to expand following substantial investments in compute and model development over the past four years.
Deliberations over a valuation of up to $1.5 trillion follow an aggressive capital campaign completed earlier in the year.1 On March 31, 2026, OpenAI announced that it closed a funding round at a post-money valuation of $852 billion.2 That round raised $122 billion in committed capital, establishing a benchmark for private technology financing and expanding beyond the preliminary $110 billion total the company had publicized in February 2026.23
A small group of strategic corporate partners formed the anchor of that earlier raise. Amazon agreed to invest up to $50 billion in the startup, while Nvidia invested $30 billion and SoftBank invested $30 billion.2 SoftBank served as a co-lead for the broader round alongside institutional investment firms, including Andreessen Horowitz and D. E. Shaw Ventures.2
Microsoft, another longtime partner to the developer, also took part in the March funding round.2 OpenAI did not disclose the specific size of Microsoft’s commitment in its corporate statements announcing the close.2 Prior to that round, Microsoft had already directed substantial resources to the company, having invested more than $13 billion in the startup by late 2025.2
Beyond major technology corporations and venture firms, the March transaction drew capital from a wider set of participants. The additional $12 billion that lifted the round from $110 billion to $122 billion came from a broader pool of investors.2 OpenAI extended access to investors through bank distribution channels for the first time, raising $3 billion from individual investors.2
The escalating capital requirements have accompanied rapid expansion across OpenAI’s core software products. The company kickstarted the artificial intelligence boom with the launch of its ChatGPT chatbot in 2022.2 By March 2026, ChatGPT supported more than 900 million weekly active users.2 That user base included more than 50 million paying subscribers, reflecting substantial adoption across both retail and corporate software markets.2
Revenue growth has climbed in tandem with audience expansion, though profitability remains distant. OpenAI disclosed in March that it was generating $2 billion in revenue per month, following an annual total of $13.1 billion across 2025.2 The company continues to burn cash and is not yet profitable, driven by the massive computing expenditures required to operate large generative systems.2
Those persistent expenses have placed sustained attention on chief executive Sam Altman, who faces pressure to justify the company's valuation as preparations continue for a potential initial public offering.2 To contain operational costs, the startup began retreating from several heavy spending plans in early 2026 and shuttered selected features, including its short-form video application Sora.2
OpenAI defended its aggressive balance-sheet expansion by presenting computing capacity as foundational infrastructure. "Moments like this do not come often," OpenAI said in an official statement released when the March funding closed.2 The company added, "The capital being deployed today is helping build the infrastructure layer for intelligence itself."2 OpenAI stated, "Over time, that value will flow back into the economy, to companies, to communities, and increasingly to individuals."2
In corporate statements accompanying the close, the company maintained that its capital resources match the scale of its technical targets. "AI is driving productivity gains, accelerating scientific discovery, and expanding what people and organizations can build," OpenAI said in a release.2 The company added, "This funding gives us the resources to continue to lead at the scale this moment demands."2
Primary could not independently verify whether preliminary discussions for the $1.5 trillion valuation have produced signed term sheets or secured commitments from lead investors. OpenAI has not published formal announcements or regulatory filings establishing a timetable for completing the round.
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nytimes.com Document · nytimes.com · 16 Sep 2026 OpenAI Considers New Financing at a $1.5 Trillion Valuation See the source
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CNBC Third-party reporting · cnbc.com · 31 Mar 2026 OpenAI closes record-breaking $122 billion funding round as anticipation builds for IPO See the source
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