OpenAI in Early Talks With Investors on Private Round at $1.2T Valuation Before IPO

Per the FT, OpenAI has begun early conversations with investors about another private funding round that would value the company at $1.2 trillion, on top of the $852B round it closed in March 2026, and before its planned public listing. The move would reset benchmark pricing above the $1T level that secondary markets have been implying for months.