OpenAI in early talks for new funding round at roughly $1.2 trillion valuation, with proceeds eyed for acquisitions; Altman says IPO before 2027 unlikely

OpenAI has held early discussions with investors about a new private funding round at a roughly $1.2 trillion valuation, up from $852 billion in March, with the talks initiated by investors, according to the FT. The new raise is aimed in part at financing acquisitions and mergers. CEO Sam Altman has said an IPO before 2027 is unlikely, and OpenAI's annualized revenue has now surpassed $40 billion.

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