OpenAI plans to raise up to $30 billion, with a pre-money valuation of $1.25 trillion
According to CNBC, 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 the goal is to secure signatures before the end of next week, and the final size is still being determined. OpenAI confidentially submitted a prospectus to the SEC in June; CFO Sarah Friar told employees in August that the company would become a public company in 2027, while CEO Sam Altman said the following month that going public now is not a wise time.
Why read this
AI score 71
The original article disclosed the funding size, pre-money valuation and lead investors, and conveyed internal statements on the IPO timetable.
Topics
Body · AI translation
On October 23 Beijing time, according to CNBC, OpenAI is about to complete a funding round of up to $30 billion, with a pre-money valuation of $1.25 trillion. The round is co-led by an Emirati investor and Coatue, and is positioned as a "bridge" ahead of a potential IPO.
According to people familiar with the matter, these people requested anonymity because the deal details are confidential. The valuation does not include the newly raised funds. OpenAI told investors on Thursday that the goal is to secure signatures by the end of next week, but the final size is still being determined.
As CNBC previously reported, OpenAI launched a new round of funding discussions after investors proactively approached it 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 its goal is total computing spending of about $600 billion by 2030.
OpenAI confidentially submitted a draft prospectus to the U.S. Securities and Exchange Commission (SEC) in June, but did not disclose 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 timing."
OpenAI's main competitor Anthropic is also preparing for a widely expected large-scale IPO. As CNBC previously reported, the company confidentially submitted a draft prospectus to 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 this year, Anthropic completed a $65 billion funding round at a valuation of $965 billion.
For more first-hand news, welcome to download the Phoenix News client and subscribe to Phoenix Technology. To see in-depth reports, please search "Phoenix Technology" on WeChat.