OpenAI is in early talks for a new funding round at a $1.2 trillion valuation - more than Nvidia's entire worth when the AI boom started. Annualized revenue just topped $40 billion, putting the valuation at 30 times annual revenue compared to Microsoft's 12x multiple. The company is asking investors for this historic amount in the middle of active scrutiny over its safety record, delayed IPO attempts, and public questions about whether the industry should slow down at all.

Dario Amodei, CEO of Anthropic, published an essay called We Must Pace the Frontier, arguing that AI labs should voluntarily slow down capability gains to focus on safety, alignment, and security before racing toward AGI. The response split the industry in half. Sam Altman at OpenAI said he agreed with some of it. Jensen Huang at Nvidia said flatly we're not going to let  ...