OpenAI working on new $30B raise at $1.25T valuation ahead of IPO

OpenAI is reportedly negotiating a private funding round of up to $30 billion at a $1.25 trillion pre-money valuation, with Coatue and UAE investors expected to lead the financing, CNBC reported. Bloomberg reported a month earlier that OpenAI was pursuing $30 billion at a $1.4 trillion valuation. Terms remain under negotiation and could change, according to both outlets. CNBC also reported that UAE funding could be paired with an agreement to provide OpenAI with additional computing capacity. OpenAI declined to comment. A valuation above $1 trillion would make OpenAI the most highly valued private company on record. OpenAI confidentially filed IPO paperwork in June, following a March funding round that valued the ChatGPT maker at $852 billion post-money. The reported private raise would occur instead of an immediate IPO and would set a higher benchmark for any eventual public listing. CNBC reported that Anthropic is seeking a $1.5 trillion to $2 trillion valuation for its public-market debut. Anthropic raised $65 billion at a $965 billion valuation in May and confidentially filed IPO paperwork in June.