OpenAI Nears $100 Billion Funding Round at $850 Billion Valuation

Summary

OpenAI is finalizing the first phase of a new funding round expected to exceed $100 billion, which would represent the largest private fundraise in history and value the company at more than $850 billion — up from the $730 billion pre-money valuation set during an earlier round. Bloomberg and TechCrunch reported simultaneously on February 19, 2026 that key backers are close to locking in their allocations, with a second phase involving venture capital firms and sovereign wealth funds to follow.