According to a Wall Street Journal report citing sources familiar with the matter, OpenAI is pursuing a new fundraising round that could see the company secure up to $100 billion and lift its valuation to an estimated $830 billion.
The fundraising is expected to conclude by the end of the first quarter of 2026, while sources indicated that the ultimate size and terms of the round remain uncertain, with questions over whether investor demand will meet OpenAI’s substantial target.
A successful raise would provide CEO Sam Altman with significant resources to maintain the company’s edge in the highly competitive—and increasingly costly—race to develop advanced generative AI. With capital expenses surging across the sector, pressure has intensified on OpenAI to prove it can turn large investments into sustained technological leadership.
Meanwhile, broader market conditions have also cooled, with partners including Oracle and CoreWeave recently experiencing declines in share price amid concerns over escalating data-center investments and worries of “circular” funding fueling an AI bubble.
OpenAI is expected to court sovereign wealth funds, building on past backing from investors in the Middle East, such as United Arab Emirates-based MGX. The fundraising push coincides with the company’s shift toward a more mature corporate structure, as it considers a potential IPO—previously reported by the Journal.
The AI startup is under mounting pressure, recently declaring a “code red” in response to increasing competition from companies like Alphabet’s Google. However, Chief Research Officer Mark Chen characterized such declarations in an interview with Bloomberg as routine internal efforts to sharpen focus.
OpenAI has also faced skepticism over its heavy spending and the nature of investments surrounding its operations. The success of the funding round will likely depend on whether Altman can persuade institutional investors of the long-term value proposition in scaling artificial intelligence, with a valuation that could see OpenAI rival the world’s largest technology giants.
