OpenAI finds itself at the center of intense financial speculation, as investors have initiated talks for a new private funding round. Should these discussions succeed, the company's valuation could reach the staggering threshold of $1.2 trillion. This figure would mark a spectacular 41% increase in just six months, confirming the market's insatiable appetite for leaders in generative artificial intelligence despite broader economic uncertainties.
The recent success of the GPT-5.6 and Astra models has significantly contributed to this momentum, enabling the company to reach an annualized revenue exceeding $40 billion. This figure places OpenAI in a robust growth trajectory, comparable to the standards of its rival Anthropic. In both cases, the market is applying a similar valuation multiple, hovering around 30 times annual revenue. This consistency underscores investor confidence in the sector's monetization potential, even as operational costs remain massive, reaching $34 billion over the previous period.
The primary stake of this fundraising lies in the future financing of infrastructure and new generations of models. Should this operation materialize, however, it could lead to a significant delay in an initial public offering. For early investors like SoftBank or Thrive Capital, this choice represents a complex trade-off: the opportunity to increase their stake in a high-growth asset clashes with the locking up of their liquidity, thereby pushing back the long-awaited stock market exit.
At this stage, the timeline for a public listing appears to be drifting, with Sam Altman now hinting at a possible date in 2027. This delay is attributed both to strategic caution regarding the sector's ethical risks and the need for future consolidation. The success of Anthropic's IPO, scheduled for as early as October, will serve as a crucial barometer. This market test will either validate or undermine current private valuations, finally transforming theoretical estimates into a tangible market reality for the entire technology ecosystem.