OpenAI seeks $1.2 trillion valuation in new private funding, up from $85.2 billion, targeting a 2027 IPO. Revenue hit $25 billion annualized with strong enterprise growth, yet operating losses reached $12.3 billion in Q2 2026 due to rigid compute costs and infrastructure investments. Microsoft, NVIDIA, and SoftBank are key investors. Despite ChatGPT exceeding one billion monthly users and 92% Fortune 500 adoption, market share dropped to 46%, facing stiff competition from Anthropic. The high valuation bets on sustained AI capex expansion and enterprise revenue growth to offset structural losses.
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