OpenAI eyes $750B valuation in talks to raise up to $100B

If OpenAI closes even a meaningful fraction of a $100 billion round at a $750 billion valuation, it would cement AI foundation models as an asset class on par with mega-cap cloud and semiconductor players.([business-standard.com](https://www.business-standard.com/world-news/openai-talks-funding-at-750-bn-valuation-could-raise-up-to-100-bn-125121801511_1.html)) That kind of balance sheet transforms what’s feasible in terms of long-horizon compute buildout, custom silicon, acquisitions and talent hoarding. It also ups the ante for rivals: Google DeepMind, Anthropic, Meta and xAI will either need comparable war chests or creative ways to piggyback on public and government infrastructure like DOE’s Genesis Mission.

From a race-to-AGI perspective, this is about pacing. With hundreds of billions in equity and debt capacity, OpenAI can afford multi-year bets on deeply agentic systems, robotics, and science models that might not monetize immediately but shift the capability frontier. The risk is that capital intensity becomes a de facto moat, pulling the frontier into a narrow coalition of hyperscalers and sovereign wealth funds. For regulators and safety advocates, a mega-round of this size would make it harder to argue that market forces alone will keep AGI pursuit measured or diversified.