OpenAI's valuation jumps to $1.25 trillion as Anthropic files to go public

OpenAI has raised $11 billion in new funding that values the company at $1.25 trillion, Bloomberg reports. The news lands just days after this outlet covered Perplexity’s launch of Teammates, AI agents built for ongoing work tasks, earlier, another sign of how fast both money and products are moving through the AI industry right now.

The new figure comes only months after OpenAI’s last major raise. In March, investors poured $122 billion into the company at an $852 billion valuation, a deal that already ranked among the largest private fundraisings on record. The latest round lifts OpenAI’s price tag by roughly $400 billion in under a year, putting it ahead of every other AI company by valuation, according to Bloomberg.

Bloomberg also says OpenAI is not done raising money. The company is still in talks with additional backers and could eventually bring the round’s total to $20 billion. That is a comedown from its original target: OpenAI had hoped to pull in as much as $30 billion at a $1.4 trillion valuation, matching earlier reporting from the Financial Times and The Wall Street Journal last week. Those plans cooled, Bloomberg says, after a drop in tech stocks and midterm election results that showed public opinion souring on AI companies and the data centers they are building.

The raise also lands as OpenAI’s closest competitor moves toward Wall Street. Anthropic filed its S-1 registration to go public last week, a step OpenAI has not taken. Altman has said OpenAI wants to wait until it can speak more confidently about the safety of its models before pursuing a listing of its own, without giving a timeline. He has also acknowledged the tension in holding off, saying, “I think it’s also kind of bad for the world if OpenAI waits too long to go public.”

What this means

The two companies are now on visibly different paths to the public markets. Anthropic has started the formal process with regulators, while OpenAI is leaning on private funding rounds that keep pushing its valuation higher without the disclosure requirements a listing would bring. Altman’s own comments suggest that calculus is a deliberate one tied to safety messaging, not a lack of investor appetite.

What the reports don’t settle is how durable OpenAI’s $1.25 trillion price tag is. Bloomberg, the Financial Times and The Wall Street Journal all describe a company that scaled back its ambitions once markets and voters turned cooler on AI spending, and none of them say whether the additional $9 billion OpenAI is still chasing will materialize, or on what terms.

For now, OpenAI remains the most valuable AI company by a wide margin, even as the political and market mood around the industry shifts under it.