OpenAI reportedly seeks $100 billion at $830 billion valuation

The Wall Street Journal and The Information reported that OpenAI was in talks to raise as much as $100 billion in new funding, with the Journal citing an $830 billion valuation and The Information a lower figure of $750 billion — the two outlets’ sourcing disagreed on the exact number, and OpenAI did not confirm either. Reports said the company was targeting a close by the end of the first quarter of 2026 and might turn to sovereign wealth funds as participants.

The reported figure would sit well above the roughly $500 billion valuation set two months earlier via an employee share sale. Coverage noted OpenAI held more than $64 billion in cash at the time and an annualised revenue run rate of about $20 billion, against spending commitments on compute and infrastructure that had drawn increasing scrutiny. TechCrunch’s account situated the report against a cooling in broader investor sentiment toward debt-financed AI infrastructure spending and constraints from a memory-chip shortage, as well as intensifying competition from Anthropic and Google. The reports also noted OpenAI was said to be discussing a separate $10 billion investment from Amazon and preparing for an eventual public listing.

As with earlier OpenAI valuation reports through 2025, the figures here came from unnamed sources and had not been confirmed by the company at the time of publication; a later, confirmed close would be needed before the number could be treated as settled rather than reported.