"An ill-advised moment to go public": OpenAI eyes a $1.5tn private round
Investors have approached OpenAI with an offer to invest at a $1.2tn valuation, but the ChatGPT maker believes it is worth at least $1.5tn. It is weighing one more private funding round before its stock market listing, which CEO Sam Altman has ruled out for this year.
Key Points:
- September 16, 2026 - 3:29 pm: OpenAI CEO Sam Altman speaks about the current market conditions being unfavourable for an IPO.
- Potential $1.5tn Valuation: OpenAI considering one more private funding round before its IPO at a valuation of approximately $1.5tn, doubling its recent $730bn valuation.
- Investor Interest: Investors recently approached OpenAI with a proposal to invest at a $1.2tn valuation, according to a report by The New York Times.
- Growth Drivers: OpenAI attributes its high valuation to growing demand for its coding tool Codex and recent model releases like GPT-6 Astra and GPT-5.6 Sol.
Investors had initially proposed a $1.2tn valuation, but OpenAI aims for a higher figure. The company confidentially filed its draft prospectus with the US Securities and Exchange Commission in June, navigating legal limits on sharing confidential information with investors.
"We still have an incredible balance sheet," said OpenAI CFO Sarah Friar in September, referring to OpenAI's financial strength.
In August, OpenAI completed a secondary share sale of approximately $7bn, providing employees with an opportunity to sell part of their holdings. The company initially planned an IPO for 2026 but has since delayed it to 2027 or earlier if business performance improves. On September 12th, Altman ruled out an IPO for this year, citing AI safety concerns and a proposal to slow down model development.