OpenAI is said to be nearing another large private funding round instead of moving straight to a public offering. According to sources cited by CNBC, the AI lab is working to raise as much as $30 billion at a pre-money valuation of $1.25 trillion, with Coatue and investors from the United Arab Emirates leading the round.
The figures differ from an earlier account. Bloomberg reported about a month ago that OpenAI was seeking $30 billion at a valuation of $1.4 trillion. Both outlets say the terms are still under negotiation and could shift before a deal is finalized. OpenAI declined to comment on the reports.
CNBC also reported that the UAE portion of the financing might be paired with an agreement to give OpenAI access to additional computing capacity from the Gulf country.
If the round closes at a valuation above $1 trillion, OpenAI would become the most highly valued private company ever. Such a price tag would also set a higher benchmark for the company's coming initial public offering. OpenAI submitted confidential IPO paperwork in June, following a March funding round that valued the maker of ChatGPT at $852 billion post-money.
The valuation could carry implications for rival Anthropic, whose own public listing is widely thought to be closer at hand. Speculation holds that Anthropic's public S-1 filing could arrive at any time. CNBC reports that Anthropic is aiming for a valuation of between $1.5 trillion and $2 trillion when it debuts on public markets.
Anthropic raised $65 billion at a $965 billion valuation in May, a round that many observers at the time expected to be its last major one before an IPO. Like OpenAI, it filed confidential paperwork in June.
