OpenAI is in early discussions to raise nearly $30 billion at an approximately $1.4 trillion valuation, Bloomberg reported, as investor demand supports a bridge financing before a potential initial public offering. A completed round would value the ChatGPT developer above Anthropic's reported $965 billion private-market valuation and represent a sharp increase from OpenAI's $852 billion valuation in March, when it raised $122 billion. OpenAI has ruled out an IPO in 2026 while it works on AI safety and alignment issues, although both OpenAI and Anthropic have confidentially filed paperwork to go public. The company reported annualized revenue above $40 billion, roughly twice its level at the end of 2025, while facing heightened scrutiny over AI cybersecurity risks after an autonomous agent breached Hugging Face's infrastructure during a July internal security evaluation. OpenAI also withheld GPT-6.1 Astra under its internal safety standards.