OpenAI has held early talks with investors about a funding round that would value the company at more than $1.2 trillion, according to the Financial Times and the Wall Street Journal. The talks follow OpenAI’s release of Astra, its newest model, and the round would close before an IPO that’s now expected next year. OpenAI raised $122 billion in March at an $852 billion valuation. Its revenue grew to $6.7 billion in the second quarter from $5.7 billion in the first, but its operating margin shrank, which pushes profitability further out. CEO Sam Altman told Fortune this month that OpenAI probably won’t go public this year because, given the current state of AI safety, now would be the wrong time.
