OpenAI has recently held discussions with large investors about a fresh capital raise ​that would increase the ChatGPT maker's valuation to ‌about $1.2 trillion before it goes public, the Financial Times reported on Tuesday, citing people familiar with ​the matter.

The conversations with investors are at ​an early stage and the figure ⁠could change over the coming months, said ​the report, adding that the talks were initiated ​by investors rather than the company.

OpenAI declined to comment on the report. It comes at a tine when OpenAI and rival Anthropic are pushing for greater regulation ​of artificial ​intelligence to ⁠ensure the technology is developed in ways that promote safety amid ​concerns about security and misuse.

The company had closed a funding round ​in March with $122 billion in committed ​capital, valuing it at $852 billion. 

Meanwhile, The New York Times has reported that OpenAI is considering a new funding round that would value the giant artificial intelligence start-up at about $1.5 trillion in advance of its planned IPO.

If successful, it would roughly double OpenAI’s most recent private valuation of $730 billion, crowning the ChatGPT maker as the world’s most valuable privately held company, stated the report citing people familiar with the matter.

The people familiar with the discussions, who requested anonymity to share details of the potential financing, stressed that no decisions had been made and that plans may change.

Investors recently approached OpenAI with a proposal to invest in the start-up at a $1.2 trillion valuation, according to the people. But OpenAI believes it should be given a value of at least $1.5 trillion based on increased customer traction with its coding tool Codex and its latest A.I. models, GPT-6 Astra and GPT-5.6 Sol, according to the people.

OpenAI generated more than $40 billion in annualised revenue last month, roughly double its sales figure at the end of last year, stated the NYT report.

OpenAI CEO Sam Altman said on ‌Saturday ⁠that the company would not go public in 2026, citing safety concerns over artificial intelligence.

Anthropic is expected ​to ⁠begin marketing its initial public offering in mid-October at the earliest and complete the ⁠listing ​days before the US midterm ​elections in November, Reuters reported earlier this month.