OpenAI plans to raise up to $30 billion, with a pre-money valuation of $1.25 trillion
OpenAI is about to complete a funding round of up to $30 billion, with a pre-money valuation of $1.25 trillion, co-led by UAE investors and Coatue, positioned as a bridge ahead of a potential IPO. OpenAI told investors on Thursday that it aims to secure signatures before the end of next week, with the final size still being determined, while also negotiating a commercial agreement to obtain more computing power from the UAE. OpenAI confidentially submitted a prospectus to the SEC in June; CFO Sarah Friar said in August that the company would become a public company in 2027, while CEO Altman said the following month that going public now is not a wise timing.
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Beyond the funding size and pre-money valuation, it also disclosed two threads: the IPO timetable and the UAE computing power negotiations.
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OpenAI to Raise Up to $30 Billion at a $1.25 Trillion Pre-Money Valuation Phoenix Tech Download the App for Exclusive Early Access October 23, 2026 06:20:35 From Beijing Updated October 23, 2026 06:47:56
Phoenix Tech News, October 23 (Beijing Time) — According to CNBC, OpenAI is close to completing a funding round of up to $30 billion at a pre-money valuation of $1.25 trillion. The round is co-led by Emirati investors and Coatue and is positioned as a "bridge" ahead of a potential IPO.
According to people familiar with the matter, who requested anonymity because the deal details are confidential, the valuation excludes the newly raised funds. OpenAI told investors on Thursday that it aims to secure signatures by the end of next week, but the final size is still being determined.
As CNBC previously reported, OpenAI began a new round of funding discussions after investors proactively approached the company in September and proposed investment plans. In addition to the new investment, OpenAI is also negotiating a commercial agreement to secure more computing power from the UAE, according to one person familiar with the matter. OpenAI told investors in February that it aims to spend about $600 billion in total on computing by 2030.
OpenAI confidentially filed a draft prospectus with the U.S. Securities and Exchange Commission (SEC) in June but has not disclosed a specific listing timetable. In August, OpenAI Chief Financial Officer Sarah Friar told employees that the AI lab "will become a public company in 2027." The following month, CEO Sam Altman said, "Going public now is not a smart time."
OpenAI's main competitor, Anthropic, is also preparing a widely anticipated large-scale IPO. As CNBC previously reported, the company confidentially filed a draft prospectus with regulators in June and is actively meeting with potential investors. Anthropic is reportedly seeking a valuation of $1.5 trillion to $2 trillion in the offering. In May of this year, Anthropic completed a $65 billion funding round at a valuation of $965 billion.
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