Analysis
OpenAI is accelerating plans to raise roughly $30 billion at a valuation exceeding $1.4 trillion, with SoftBank Group and Abu Dhabi's MGX in talks to participate, Reuters reported Monday -- timing the round to close before rival Anthropic's expected mid-November IPO, according to a report relayed by TalkMarkets.
Pulse first covered this same raise on September 29, when the $30 billion figure and $1.4 trillion valuation target first surfaced. What's changed since then: the timeline has reportedly compressed, with OpenAI now racing to close before Anthropic prices its own IPO, and SoftBank and MGX -- both existing OpenAI investors -- are now in talks to participate in this specific round rather than just being named as backers generally.
āIf the new figure holds, OpenAI's valuation will have more than quadrupled in about 18 months.ā
The reported $1.4 trillion-plus mark would sit well above OpenAI's $852 billion valuation from its August tender offer, itself already a jump from the $300 billion mark set in its March 2025 round led by SoftBank. If the new figure holds, OpenAI's valuation will have more than quadrupled in about 18 months.
However, none of this is finalized. The reporting comes from Reuters sourcing relayed through a secondary outlet citing people familiar with the plans, not an OpenAI statement, a term sheet or a regulatory filing, and pre-IPO rush rounds have been known to slip in both timing and size before they close.