OpenAI Nears Completion of Up to $30 Billion Funding Round, Pre-Money Valuation Reaches $1.25 Trillion

According to CNBC, OpenAI is nearing the completion of a financing round of up to $30 billion, with a pre-money valuation of $1.25 trillion, excluding funds raised in this round. Insiders said this round is led by investors from the UAE and Coatue, and has been positioned as an "opportunistic" transitional financing ahead of an IPO. On Thursday, OpenAI told investors that it aims to secure executed documents before next weekend, although the final financing amount is still being finalized. Meanwhile, OpenAI is negotiating a commercial agreement to obtain more compute capacity from the UAE. In February, the company told investors that its goal is to invest approximately $600 billion cumulatively in compute infrastructure by 2030. OpenAI filed a draft prospectus with the U.S. Securities and Exchange Commission (SEC) on a confidential basis in June, but has not yet disclosed a listing date. Chief Financial Officer Sarah Friar stated in August that the company "will become a publicly traded company in 2027," while CEO Sam Altman remarked in September that it would not be wise to go public at this time.