OpenAI is about to complete a $30 billion funding round at a pre-money valuation of $1.25 trillion

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AI giants race before going public: OpenAI is about to complete a $30 billion financing round, with computing power ramped up!

Cailian Press Huang Junzhi, Editor Lin Qi 2026-10-23 08:47

① OpenAI is about to complete a financing round of up to $30 billion, with a pre-money valuation of $1.25 trillion; ② This round is co-led by UAE investors and the investment firm Coatue, and the company plans to complete signing before the end of next week; ③ People familiar with the matter also revealed that, alongside the financing, OpenAI is simultaneously negotiating a supporting commercial agreement aimed at obtaining additional computing power supply from the UAE.

Cailian Press, October 23 (Editor Huang Junzhi) According to reports, OpenAI is about to complete a financing round of up to $30 billion, with a pre-money valuation of $1.25 trillion. The company hopes to secure funds before its initial public offering (IPO), while its competitor Anthropic is also preparing to enter the public market.

People familiar with the matter said the round is co-led by UAE investors and the investment firm Coatue; the above valuation is a pre-money valuation and does not include the new funds raised in this round. OpenAI told investors on Thursday that it plans to complete signing before the end of next week, but the final financing size is still under discussion.

According to another report, OpenAI plans to use this as bridge financing ahead of a potential initial public offering (IPO). OpenAI Chief Financial Officer Sarah Friar previously told employees that the company may go public in 2027. Previously, OpenAI confidentially submitted IPO registration documents to the U.S. Securities and Exchange Commission in June this year, but has not yet announced a specific listing date.

The timing of this IPO is significant because Anthropic is preparing for an IPO in November. According to reports, this rival AI developer is seeking a valuation of up to $2 trillion, but some investors, doubting its growth prospects, believe a valuation of around $1.5 trillion is more reasonable.

OpenAI's move to accelerate financing reflects that these two frontier labs are increasingly competing for the same group of investors. According to the report, OpenAI hopes to secure investor commitments before Anthropic's IPO information disclosure, to avoid a more direct comparison between the two companies (both pursuing trillion-dollar valuations).

This round will be another financing round following OpenAI's completion of a $122 billion financing round in March this year, when OpenAI's valuation reached $852 billion. The latest valuation plan would be a substantial increase over the previous valuation, but the new round has not yet been finalized.

People familiar with the matter also revealed that, alongside the financing, OpenAI is simultaneously negotiating a supporting commercial agreement aimed at obtaining additional computing power supply from the UAE. This agreement is expected to provide OpenAI with substantive support at the infrastructure level beyond funding, further expanding the operating scale of its AI business.

Meanwhile, financing negotiations for technology companies are facing more severe challenges. Rising interest rates, volatility in tech stocks and investors' close attention to AI infrastructure spending have all made financing and IPO plans across the industry more complicated. However, despite the turbulent market environment, there were still reports on Thursday that Anthropic remains prepared to proceed with its listing as planned.

Analysts pointed out that the proposed financing round will provide OpenAI with additional funds before its expected listing and may set a valuation benchmark before Anthropic enters the public market. Whether investors will ultimately support a valuation of nearly $2 trillion for a leading AI developer will depend on how they weigh revenue growth, competitive position and the enormous cost of building AI infrastructure.

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Cailian Press statement: The content of this article is for reference only and does not constitute investment advice. Investors who act on it do so at their own risk.

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