OpenAI seeks up to $30bn at $1.25tn valuation, CNBC reports

OpenAI is working on a new funding round of up to $30 billion at a $1.25 trillion pre-money valuation, according to sources who spoke to CNBC, as reported by TechCrunch on 22 October.

CNBC's sources said terms are still being negotiated, so details could change. OpenAI declined to comment.

Coatue is reported to lead the round, with investors from the UAE also taking part. CNBC said the UAE money could be tied to a deal for more computing capacity for OpenAI.

Bloomberg reported a month earlier that OpenAI was seeking $30 billion at a $1.4 trillion valuation. The latest report puts the valuation lower.

A valuation above $1 trillion would make OpenAI the highest-valued private company ever, according to the report.

OpenAI filed confidentially for an IPO in June. Its previous raise, in March, valued it at $852 billion post-money.

Rival Anthropic raised $65 billion at a $965 billion valuation in May and filed confidentially for an IPO in June. CNBC reports Anthropic is seeking $1.5 trillion to $2 trillion for its debut.

The terms of the OpenAI round have not been finalised, and the company has not confirmed the figures.