The artificial intelligence (AI) company is targeting a valuation of roughly $1.4 trillion, not counting new funds raised, Bloomberg News reported Tuesday (Sept. 29), citing sources familiar with the matter.
That figure could push OpenAI past rival Anthropic’s most recent private market valuation, the report added. One source told Bloomberg the demand for the new round is being driven by investors as OpenAI is enjoying robust revenue growth.
PYMNTS has contacted OpenAI for comment but has not yet gotten a reply. The company declined to comment when reached by Bloomberg.
As Bloomberg notes, OpenAI has been in stiff competition with Anthropic to land more enterprise customers and increase revenue before going public. Both companies have filed confidential paperwork for their initial public offerings (IPO), with Anthropic’s listing expected to happen as soon as November.
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“If Anthropic lists first, it would set the valuation benchmark for every AI lab that follows,” PYMNTS wrote Tuesday following media reports about that company’s IPO prospectus.
SpaceX, which went public in June at a $1.77 trillion valuation, now holds the record Anthropic is aiming to pass, that report noted.
OpenAI CEO Sam Altman has said the company would not go public this year. He said in an interview with Bloomberg TV Tuesday the company wants to deal with increased safety concerns around AI without also worrying about being a freshly-listed company.
The startup is now “adjusting” to a “new level” of AI capability and the additional safety requirements that come with it, Altman told Bloomberg.
“We just want to get our feet under us and make sure we understand how to operate in this new way, [and] be able to make some of these decisions in front of us without the pressure of being a newly public company,” Altman said, adding that he thinks investors will be “patient” with its IPO preparations.
Also Tuesday, Axios reported that OpenAI was on track to generate annualized revenue of nearly $70 billion, a 70% increase since the beginning of its third quarter. However, the report noted that details about the company’s expenses were unclear, and that this was a crucial metric to understanding its growth.
Tuesday also saw OpenAI debut AI agents called “dots,” saying in a news release that they are “built to handle everything.”
Powered by OpenAI’s GPT-6 Astra, the dots have their own cloud computer, learn from feedback over time, can function around the clock and connect to more than 4,000 apps through OpenAI’s network of plugins, the company said.
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