Sam Altman’s OpenAI is reportedly in the final stages of securing a significant fundraising round that would value the artificial intelligence company at over $1 trillion. The company is aiming to raise up to $30 billion, according to a report from CNBC, citing individuals familiar with the matter.

The reported valuation of $1.25 trillion does not yet include the capital from this new round of funding. Participants in the potential deal include the tech investment firm Coatue and unidentified investors from the United Arab Emirates, the report stated.

These funds are being viewed as a strategic bridge as OpenAI considers its future as a publicly traded company. While an initial public offering (IPO) was anticipated for this year, it has since been delayed. OpenAI's chief executive, Sam Altman, indicated in a recent interview with Fortune that it is currently "an ill-advised moment to go public." However, OpenAI CFO Sarah Frier has suggested that an IPO could occur sometime in 2027.

OpenAI had previously confidentially filed documentation with the Securities and Exchange Commission (SEC) in August, signaling its intent to go public. The company has been discreet about the exact timeline for its IPO.

The ongoing discussions about a public debut occur at a critical juncture for major AI companies. Both Altman and Dario Amodei, CEO of competitor Anthropic, have publicly advocated for a temporary slowdown in AI development, even as they pursue new investment. Anthropic, known for its Claude AI model, is reportedly targeting a mid-November IPO with a valuation between $1.5 trillion and $2 trillion.

Adding to the market dynamics, Wall Street investors are reportedly urging both Anthropic and OpenAI to expedite their IPO plans. This push may stem from concerns that a potential Democratic victory in upcoming elections could lead to increased regulatory scrutiny of the AI industry, as reported by Charles Gasparino.

In related news, Elon Musk's SpaceX, which also houses his AI venture xAI, completed a record-setting IPO in June. Musk has also recently mused about the possibility of merging SpaceX with Tesla, a move that would create a combined entity valued at $3.5 trillion.

OpenAI has been contacted for comment regarding the fundraising round and IPO plans.