OpenAI Seeks $30B Bridge Funding as IPO Plans Shift to 2027

Summary

• OpenAI seeks at least $30 billion in bridge funding at a $1.4 trillion valuation while postponing its IPO until 2027.
• OpenAI’s annualized revenue approaches $70 billion as enterprise sales more than double, supporting its fundraising efforts amid expanding computing commitments.
• Anthropic advances its public listing plans while both companies compete for enterprise customers and face substantial computing and infrastructure costs.

OpenAI wants private investors to provide at least $30 billion as it postpones its planned public listing until 2027. According to Bloomberg’s September 29 report, the ChatGPT developer is targeting a valuation of approximately $1.4 trillion. This figure excludes the proposed investment, while negotiations remain preliminary and the terms could change before investors reach an agreement.

The proposed financing would serve as a bridge round, providing additional capital before OpenAI enters public markets. Bloomberg reported that investor demand is driving the talks as the company records substantial revenue growth.

Meanwhile, chief executive Sam Altman has ruled out an IPO in 2026, citing concerns surrounding advanced artificial intelligence. His position moves OpenAI’s listing plans into 2027 while leaving private fundraising available to support the company’s operations.

A successful round would raise OpenAI’s valuation considerably above the level established during its previous financing in March. During that round, investors provided $122 billion at an $852 billion post-money valuation, according to Bloomberg’s report.

Previously, OpenAI considered raising capital at approximately $1.2 trillion, placing the latest valuation target about $200 billion higher. However, the company has yet to secure the proposed terms, and the reported valuation remains a negotiating target.

Alongside those negotiations, OpenAI’s annualized revenue is approaching $70 billion, according to Axios’ reporting on the company’s financial performance. Enterprise sales have also more than doubled since July, highlighting the growing contribution of business customers to OpenAI’s expansion.

Additionally, reported annualized revenue has increased more than 70% since the beginning of the third quarter. These figures describe revenue at the current operating pace rather than earnings collected across a completed financial year.

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Enterprise Competition and Computing Commitments Add Context to Funding Talks

OpenAI’s funding push comes as Anthropic advances its own public listing preparations while both companies compete for enterprise customers. Anthropic confidentially filed for a U.S. IPO in June, placing it ahead of OpenAI in the public-market process. Reuters reported that the Claude developer could seek a valuation above $2 trillion, based on a prospectus it reviewed.

Moreover, Anthropic disclosed approximately $518 billion in future cloud, computing and infrastructure obligations, underscoring the industry’s substantial financing requirements. OpenAI is targeting approximately $600 billion in computing spending through 2030, adding context to its pursuit of additional investment.

Both companies are expanding enterprise sales as they seek to convert widespread AI adoption into sustainable businesses. Consequently, their fundraising plans involve substantial computing commitments alongside growing revenue and competition for paying business customers.

OpenAI has also expanded its product lineup while postponing its IPO, including the launch of its Dots AI agent. The company introduced a $500 monthly subscription tier with higher usage limits and faster processing alongside changes to its $200 plan.

For OpenAI, the proposed bridge round would extend its access to private capital while preparations for a public listing proceed. Nevertheless, investors must still agree on the amount, valuation, and final terms before the company can complete the financing.

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