OpenAI (OPAI.PVT) is looking to raise a fresh $30 billion funding round that would value the AI lab at $1.25 trillion. The company was previously looking to raise capital at a $1.5 trillion valuation, according to Bloomberg.

OpenAI last raised $122 billion in March, which valued the company at $852 billion .

Rival Anthropic ( ANTH.PVT ), meanwhile, is preparing to file its initial public offering (IPO) ahead of the Thanksgiving holiday, with Wall Street anticipating a valuation of as high as $2 trillion.

The company could publicly reveal its S-1 at any time in the coming days.

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OpenAI's funding discussions come amid wide-ranging declines in AI stocks on Wall Street over concerns about the data center build-out. Neoclouds, especially CoreWeave (CRWV), have been at the center of the latest rout, with investors questioning the companies' enormous debt loads.

Everything from semiconductor to hyperscaler stocks has taken a hit, with Meta (META) dropping as much as 7% on Thursday after raising the lower end of its capital expenditure guidance.

The Philadelphia Semiconductor Index (^SOX) is off 7% in the past 5 days.

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Email Daniel Howley at dhowley@yahoofinance.com. Follow him on Twitter at @DanielHowley.

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