OpenAI Targets $120 Billion Valuation in Private Funding Ahead of IPO

OpenAI is reportedly advancing private fundraising efforts targeting a $120 billion valuation ahead of its initial public offering (IPO), according to the Financial Times (FT) on May 15 (local time).

The company previously secured $12.2 billion at an $85.2 billion valuation in March. This new round, proposed by investors within six months, could see OpenAI surpass competitor Anthropic, which recently achieved a $96.5 billion valuation on May 9.

OpenAI plans to use the funds for high-performance AI model training and service operations. CFO Sara Priya stated in a CNBC interview that they are not concerned about slowing development speed for safety reasons, adding that investment decisions will be based on high return on investment (ROI) criteria.

CEO Sam Altman previously stated on May 12 that the current environment around AI safety concerns makes it an inappropriate time to go public.