The firm behind the ChatGPT chatbot is shifting its financing strategy to rely on private investors rather than public markets to fund its current expansion. CEO Sam Altman has ruled out a public listing in 2026, citing that it would be an "ill-advised moment" because of concerns over AI safety. To bridge this gap, OpenAI is seeking at least $30 billion in new capital in a private round that would value the startup at roughly $1.4 trillion pre-money, sources said.

The fundraising push coincides with a surge in growth, as annualized revenue now nears $70 billion, up more than 70% since the start of the current quarter. This capital need follows $12.1 billion in compute spending during the first quarter of 2026 and a $122 billion raise in March that valued the firm at $852 billion. While investors are reportedly driving demand for the new shares, prediction markets on Kalshi place the probability of an IPO before June 2027 at 50%.