OpenAI targets $30 billion funding at $1.4 trillion valuation, Bloomberg News reports

Sept 29 (Reuters) — OpenAI aims to raise at least $30 billion in a funding round and is seeking a valuation of about $1.4 trillion, not including the money raised, Bloomberg News reported on Tuesday, citing people familiar with the matter. Here are more details: The fundraising discussions are at an early stage and terms could change, The proposed round would serve as a bridge financing to provide capital in place of an IPO, the report said. OpenAI did not immediately respond to a Reuters request for comment. The company had closed a funding round in March with $122 billion in committed capital, valuing it at $852 billion. OpenAI CEO Sam Altman said earlier this month that the company would not go public in 2026, citing safety concerns over artificial intelligence. OpenAI's annualized revenue run rate is nearing $70 billion, having risen more than 70% since the beginning of the third quarter, (Reporting by Anzar Mehraj in Bengaluru; Editing by Maju Samuel) ((Anzar.Mehraj@thomsonreuters.com;)