OpenAI is reportedly in early talks to raise funding at a $1.2T+ valuation, up roughly 41% from March’s $852B. An IPO is expected in 2027.

The company reports over 1B active users, while Q2 revenue grew 18% to $6.7B. But operating margins declined, pushing profitability further out as competition intensifies.

Anthropic still sits at about $2T in valuation. However, OpenAI comes closer and closer.

Via WSJ