OpenAI Seeks Up to $30 Billion at $1.25 Trillion Valuation Ahead of IPO

Reported Round Details

OpenAI is reportedly close to securing another large private funding round rather than proceeding immediately with an IPO. The AI lab is working on raising up to $30 billion at a $1.25 trillion pre-money valuation, in a round led by Coatue and investors in the UAE, according to sources cited by CNBC. Terms are still being negotiated and could change. OpenAI declined comment.

The report follows a Bloomberg report a month ago that said OpenAI was working on raising $30 billion at a $1.4 trillion valuation. CNBC also reports that the UAE funding could be coupled with a deal to secure more computing capacity for OpenAI from the UAE.

IPO and Valuation Context

If OpenAI commands a valuation of more than $1 trillion in this round, it would become the most valued private company ever, according to the report. That valuation could also raise the bar for OpenAI's forthcoming IPO. The company filed confidential paperwork for an IPO in June. Its last raise, in March, valued the ChatGPT maker at $852 billion post-money.

Anthropic Comparison

The report says the high valuation could also have ramifications for Anthropic's IPO, which many believe is closer to materializing. Rumors suggest Anthropic could make its public S-1 filing any day now. CNBC reports that Anthropic is seeking a $1.5 trillion to $2 trillion valuation for its public debut. Anthropic raised $65 billion at a $965 billion valuation in May and also filed confidential paperwork in June.

Sources: TechCrunch · CNBC · Financial Times