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OpenAI working on new $30B raise at $1.25T valuation ahead of IPO
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OpenAI is reportedly raising up to $30 billion in a private round at a $1.25 trillion pre-money valuation, led by Coatue and UAE investors, CNBC reported. The AI lab is pursuing this mega round instead of an immediate IPO. Terms are still being negotiated and could change. OpenAI declined to comment.
The reported raise follows a Bloomberg report a month earlier that said OpenAI was seeking $30 billion at a $1.4 trillion valuation. OpenAI last raised in March, valuing the ChatGPT maker at $852 billion post-money. In June, the company filed confidential paperwork for an IPO.
Should the round close above $1 trillion, OpenAI would become the most valuable private company ever. CNBC also reported that the UAE funding could be paired with a deal to secure more computing capacity for OpenAI from the UAE. The reported $1.25 trillion pre-money valuation is well above the $852 billion post-money valuation from March.
The record valuation would have ramifications for Anthropic’s IPO, which many believe is closer to materializing. It would also raise the bar even higher for OpenAI’s own public offering. The scale of the round underscores the competition between the two AI labs.
The news comes as Anthropic, a key OpenAI competitor, is reportedly closer to its own IPO. CNBC reports that Anthropic is seeking a $1.5 trillion to $2 trillion valuation for its public debut. Rumors suggest Anthropic’s public S-1 filing could arrive any day.
Anthropic raised $65 billion at a $965 billion valuation in May, which many believed would be its last major private round before going public. It also filed confidential paperwork in June. Both companies’ moves will test public-market demand for AI at unprecedented scale.
