The new raise would make OpenAI the most valuable private company in history, setting up a blockbuster public debut.
OpenAI is in talks to raise $30 billion at a $1.25 trillion valuation, according to TechCrunch, a figure that would shatter every prior private-market record and signal investors are pricing in an eventual IPO.
The round comes as OpenAI faces mounting compute costs, rising enterprise competition, and pressure to show a path to profitability before going public.
A $1.25T valuation forces every AI competitor, cloud provider, and enterprise buyer to recalibrate what 'too expensive' means for AI infrastructure. For operators, this is the clearest signal yet that AI spend is being underwritten as a long-term capital bet, not a short-term pilot.
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