OpenAI is aiming to raise as much as $100 billion in a fundraising round that could value the company at up to $830 billion, according to a Wall Street Journal report.
The company plans to use the funds to expand its artificial-intelligence infrastructure and accelerate growth, per the report.
The round could be completed by the end of the first quarter of 2026, though terms and investor demand remain uncertain.
Chief Executive Sam Altman has reportedly sought a diverse group of investors, while the company has also explored a potential initial public offering, the WSJ reported.
OpenAI has already secured substantial backing from SoftBank, which agreed to invest $30 billion earlier this year and plans to provide an additional $22.5 billion by year-end.
The company has also received a $1 billion investment from Disney and entered into multiple content-licensing agreements, highlighting continued interest from strategic partners.
Investors cited by the WSJ include Thrive Capital, Microsoft, SoftBank, and MGX. Funds raised are expected to support scaling of AI compute, data centers, hardware infrastructure, and product development, including projects such as the Stargate initiative.
The fundraising effort represents a key test for OpenAI amid a broader cooling of enthusiasm for AI-related investments in public markets.
“One narrative since November has been that there is an AI bubble and that capital investment is fated to slow given poor returns,” Wedbush analysts wrote in a note.
“A successful raise by OpenAI that includes another large upward revision in the startup's valuation would seemingly squarely conflict with this narrative as it would indicate large sophisticated investors with more knowledge of OpenAI's current and future financials are willing to continue to support OpenAI.”