OpenAI is once again exploring the possibility of raising funds from investors. The AI company would be valued at more than 1.2 trillion dollars in such a round. Additional capital could give OpenAI more flexibility in determining the timing of its IPO.
The discussions are still in the early stages and are said to have been initiated by investors, Bloomberg reports, citing sources familiar with the matter. Whether OpenAI actually launches a new funding round depends, in part, on the timing of the IPO.
CEO Sam Altman (photo) recently stated that an IPO is no longer on the agenda for this year. New private capital would give OpenAI the option to potentially push the IPO back a few more months. At the same time, the funds could be used for new acquisitions.
Billions for acquisitions
OpenAI has recently acquired several companies. One of the largest transactions was the acquisition of io, the AI hardware startup founded by former Apple designer Jony Ive. The company also acquired Astral, which develops tools for Python.
With a valuation of more than 1.2 trillion dollars, OpenAI would once again surpass Anthropic. That competitor raised new capital in May at a valuation of 965 billion dollars.
Meanwhile, Anthropic is growing rapidly. According to Bloomberg, the company achieved preliminary revenue of more than $11.5 billion in the second quarter, more than fourteen times the $787 million reported a year earlier. In the first quarter of this year, revenue stood at $4.73 billion.
Profitability is also improving. According to the Financial Times, Anthropic expects to be profitable this quarter for the second consecutive quarter. Two insiders report that gross margins are above 80 percent. From that figure, revenue shared with distribution partners such as Amazon and the costs of training the AI models must still be deducted.
Anthropic is also now working on an initial public offering (IPO) and, according to Bloomberg , has chosen Nasdaq for its listing. That IPO could potentially take place as early as this fall.
For OpenAI, another issue comes into play regarding a potential new funding round. The company is investigating what information it is legally permitted to share with private investors prior to an IPO.
The Financial Times also reported earlier this week that discussions about a new round of funding are underway. This would allow existing investors to increase their stake in OpenAI even before the IPO.