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OpenAI nears $30 billion funding round at $1.25 trillion valuation led by UAE investors

·2026.10.23 05:15

Key point

UAE investors and Coatue lead the round, positioned as a bridge ahead of a potential IPO.

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Details

  • OpenAI is closing in on a funding round of up to $30 billion at a $1.25 trillion pre-money valuation.
  • Investors from the United Arab Emirates and Coatue are leading the financing, which is described as an opportunistic bridge ahead of a potential IPO.
  • The company is negotiating a commercial deal to secure more computing capacity from the UAE, targeting roughly $600 billion in total compute spend by 2030.
  • OpenAI confidentially filed its prospectus with the SEC in June, with CFO Sarah Friar stating the company will be public in 2027, though CEO Sam Altman recently called going public now ill-advised.
  • Rival Anthropic is also preparing for an IPO, seeking a valuation between $1.5 trillion and $2 trillion after closing a $65 billion round at a $965 billion valuation in May.
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