Microsoft (MSFT)-backed OpenAI is seeking a valuation above $1.2 trillion in new funding discussions while projecting $278 billion of negative free cash flow from 2026 through 2030, the Financial Times reported, citing a recent company presentation.

OpenAI expects revenue to rise from $36 billion in 2026 to $350 billion in 2030, with total revenue projected at $840 billion over the five years, according to the FT. The company also forecasts about $856 billion in spending on computing power and infrastructure through 2030, the report said.

OpenAI has raised $122 billion and is projected to exhaust that cash by 2028, according to the presentation cited by the FT.

The FT reported that the company is also relying on contracts with major technology companies including Nvidia (NVDA), Oracle (ORCL) and SoftBank's data center business as it expands access to computing capacity.

OpenAI did not immediately respond to MT Newswires' request for comment.

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