OpenAI Nears Up to $30 Billion Round at $1.25 Trillion Valuation

OpenAI is nearing a funding round of up to $30 billion at a $1.25 trillion pre-money valuation, positioning the artificial intelligence company to secure fresh capital ahead of a possible public listing.

Coatue and investors in the United Arab Emirates are leading the financing. The pre-money figure excludes money raised in the round. The financing is being positioned as interim backing for a potential initial public offering, but OpenAI has not disclosed a listing date.

Separately, OpenAI is negotiating a commercial arrangement that would provide more computing capacity from the UAE. The company told investors in February that it was targeting roughly $600 billion in total computing spending by 2030.

OpenAI confidentially filed a prospectus with the Securities and Exchange Commission in June. Chief Financial Officer Sarah Friar told employees in August that the company “will be a public company in 2027.” Chief Executive Sam Altman said the following month that “right now would be an ill-advised moment to go public.”

OpenAI aims to secure investor signatures by Oct. 30, while the round’s final size remains under discussion.