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OpenAI Nears $30B Funding Round at $1.25 Trillion Valuation Ahead of IPO
Coatue is reportedly leading the raise, which would make OpenAI the most highly valued private company ever.
OpenAI is reportedly close to securing up to $30 billion in new funding at a $1.25 trillion pre-money valuation, TechCrunch reports, citing sources who spoke to CNBC. Coatue is leading the round, with investors in the UAE also involved.
Terms are still being negotiated and could change. OpenAI declined to comment.
A Step Up From March
OpenAI's March raise valued the company at $852 billion post-money. A month before CNBC's report, Bloomberg reported an earlier version of the deal: about $30 billion at a $1.4 trillion valuation.
A valuation above $1 trillion would make OpenAI the most highly valued private company ever.
The UAE Angle
According to CNBC, the UAE funding could be coupled with a deal for more computing capacity for OpenAI from the UAE.
What It Means for an IPO
OpenAI filed confidential IPO paperwork in June but is reportedly pursuing private funding rather than moving ahead with a listing. No IPO date has been set. A private valuation above $1 trillion would raise the bar for its eventual public debut.
The Anthropic Comparison
The raise comes as rival Anthropic also moves toward the public markets. Anthropic raised $65 billion at a $965 billion valuation in May and filed confidential IPO paperwork in June. CNBC reports Anthropic is seeking a $1.5 trillion to $2 trillion valuation for its public debut.
Source
TechCrunch — "OpenAI working on new $30B raise at $1.25T valuation ahead of IPO"