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

OpenAI seeks up to $30 billion at a $1.25 trillion valuation, led by UAE investors and Coatue, ahead of a possible 2027 IPO, CNBC reports.

AI News Feed · 2026-10-23 06:47

OpenAI told investors Thursday that it aims to secure signatures by the end of next week, the people said. The final size of the round is still being determined. According to CNBC, the $1.25 trillion valuation does not include the new capital being raised. TechCrunch reported that OpenAI declined to comment.

The latest reported terms differ from a Bloomberg report a month earlier, which said OpenAI was working to raise $30 billion at a $1.4 trillion valuation. Both CNBC and TechCrunch said the terms are still being negotiated and could change. If the round closes above $1 trillion, OpenAI would become the most valuable private company on record, raising the bar for its own IPO. OpenAI’s previous raise, in March, valued the ChatGPT maker at $852 billion post-money, according to TechCrunch.

Alongside the investment, OpenAI is negotiating a commercial deal that would secure more computing capacity from the UAE, according to one person cited by CNBC. The arrangement could add computing power as OpenAI expands its AI business.

OpenAI has filed confidentially to go public. TechCrunch reported that the confidential paperwork was filed in June. The financing comes during a choppy period for technology markets, with jitters around CoreWeave and questions about future financing conditions as interest rates rise, CNBC reported.

Anthropic’s expected IPO would provide another test of investor appetite for the sector. CNBC reported 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, in what many investors believed would be its last major private round before an IPO, and it filed confidential paperwork in June, according to TechCrunch.