OpenAI Raises $15 Billion in Private Round at $1.25 Trillion Valuation
OpenAI has raised $15 billion in an opportunistic private round at a $1.25 trillion pre-money valuation, above the roughly $11 billion previously reported, framed as preparation for a potential 2027 IPO. Q3 2026 revenue reached about $10 billion, up nearly 50% quarter over quarter, while operating losses widened to $10.9 billion, keeping the scale-versus-profitability tension central.
Related Entities
Full Report
IT之家 November 13 news, according to a CNBC report today, OpenAI raised $15 billion (IT之家 note: approximately 100.276 billion yuan at current exchange rates) in its latest private funding round, with a pre-money valuation reaching $1.25 trillion (approximately 8.36 trillion yuan at current exchange rates).
This amount is higher than the approximately $11 billion previously disclosed by media, and this funding round is also seen as an important move by OpenAI to prepare capital in advance for a potential initial public offering (IPO) in 2027.
People familiar with the matter told CNBC that the funding round has not yet officially closed and is expected to be completed within the coming weeks. Those involved described it as an opportunistic fundraising effort aimed at helping OpenAI prepare for an IPO expected in 2027.
Meanwhile, its main competitor Anthropic is preparing for a Nasdaq listing, with trading planned to begin on November 19. According to a previous Reuters report, Anthropic's IPO valuation target is up to approximately $1.4 trillion (approximately 9.36 trillion yuan at current exchange rates).
As the funding scale expands, OpenAI's revenue growth and massive operating losses have also become a focus for investors.
According to data disclosed by The Wall Street Journal, OpenAI's revenue in the third quarter of 2026 was approximately $10 billion, an increase of nearly 50% from the second quarter. However, the company's operating loss during the same period reached $10.9 billion, higher than $10.1 billion in the second quarter. Its adjusted operating margin improved from approximately -150% in the second quarter to -109%.
These figures reflect that while OpenAI is scaling its business, it still has to bear the high costs brought by infrastructure construction such as model training, inference services, and data centers. Despite continued revenue growth, the company is still a long way from achieving sustained profitability.
By comparison, Anthropic's financial performance has also drawn market attention. However, different AI companies do not use exactly the same financial adjustment methods for items such as equity incentives and charitable donations, so directly comparing the two companies' adjusted margins requires caution.
With Anthropic about to enter the public market and OpenAI pointing to a potential IPO timeline of 2027, investors are expected to be able to compare the two companies' revenue growth, operating costs, and profitability more directly through the financial disclosures of listed companies.