OpenAI nears $30bn raise at $1.25 trillion valuation
The ChatGPT maker is negotiating another giant private round led by Coatue and UAE investors, which would make it the most valuable private company ever.
OpenAI is close to securing up to $30 billion in new private funding at a pre-money valuation of $1.25 trillion, in a round led by the investment firm Coatue and investors from the United Arab Emirates, CNBC reported on Thursday, citing people familiar with the talks. Terms are still being negotiated and could change. OpenAI declined to comment.
The money could come together with an agreement giving OpenAI additional computing capacity in the UAE. A month ago, Bloomberg reported that the company was seeking a similar amount at a valuation of $1.4 trillion.
A valuation above $1 trillion would make OpenAI the most valuable private company in history. Its previous round, in March, valued it at $852 billion after the investment. The company filed confidential paperwork for a stock-market listing in June, and a new private round at this level would set a very high bar for that future IPO.
The deal also matters for rival Anthropic, which raised $65 billion at a $965 billion valuation in May and is reported to be aiming for $1.5 trillion to $2 trillion when it goes public. The news came on a day when investors sold technology shares over worries about the cost of the AI boom.