OpenAI is reportedly close to a new funding round of up to $30 billion that would value the ChatGPT maker at $1.25 trillion before the new cash comes in. People familiar with the talks say investors from the United Arab Emirates and the hedge fund Coatue are leading the round. If it closes at that price, OpenAI would become the most valuable private company in history.
The deal is not done yet. Terms are still being negotiated, so the final size and price could change before anyone signs.
What We Know About the OpenAI Funding Round
According to the people who described the talks, the money is being framed as an “opportunistic” bridge ahead of a possible stock market debut. Investors reportedly approached OpenAI with proposals back in September, which kicked off the discussions.
Here are the main details reported so far:
- Size: up to $30 billion in new capital, with the final amount still being worked out.
- Price: a $1.25 trillion pre-money valuation, meaning the new money would be added on top.
- Leaders: UAE-based investors alongside Coatue.
- Timing: OpenAI reportedly told investors on Thursday that it hopes to get signatures by the end of next week.
- Extra piece: a separate commercial deal for more computing capacity from the UAE is reportedly being negotiated alongside the investment.
OpenAI declined to comment on the reports. Because everything here comes from unnamed sources, treat the numbers as the current state of talks, not a final result.
A Slightly Lower Price Than Last Month’s Report
This is not the first time a $30 billion figure has surfaced. About a month ago, a separate report said OpenAI was working on a raise of the same size at a $1.4 trillion valuation. The newer number is lower, which suggests the price has moved during negotiations.
How This Funding Round Compares
The jump from OpenAI’s last round is still huge. In March, a raise valued the company at $852 billion after the money came in. A $1.25 trillion pre-money price would be roughly 47% higher just seven months later.
| Company and round | Amount raised | Reported valuation |
|---|---|---|
| OpenAI, March 2026 | Not stated in reports | $852 billion (post-money) |
| Anthropic, May 2026 | $65 billion | $965 billion |
| OpenAI, reported talks (Sept.) | $30 billion | $1.4 trillion |
| OpenAI, reported talks (now) | Up to $30 billion | $1.25 trillion (pre-money) |
Compute is the big reason the checks keep getting bigger. OpenAI told investors in February that it is targeting about $600 billion in total computing spend by 2030, and pairing this round with a UAE compute deal fits that plan.
The OpenAI IPO Question
OpenAI filed confidential paperwork for an IPO in June, so a public listing is clearly on the table. Still, the company’s leaders have sent mixed signals about timing.
Chief financial officer Sarah Friar reportedly told employees in August that OpenAI “will be a public company in 2027.” A month later, CEO Sam Altman said now would be an ill-advised moment to go public. A private bridge round lets OpenAI raise cash without rushing that decision.
A trillion-dollar private round buys OpenAI time. It can keep funding data centers while it waits for the right moment to list.
The Race With Anthropic
OpenAI’s main rival is moving toward its own listing. Anthropic also filed confidentially in June, and it is reportedly seeking a valuation between $1.5 trillion and $2 trillion when it goes public. You can read more about its recent numbers in our piece on Anthropic’s IPO plans.
Some observers expect Anthropic’s public filing soon, although that has not been confirmed. Whichever company lists first will set a reference price for the other, and a $1.25 trillion private mark gives OpenAI a high bar to clear.
What This Means for You
For most people, a funding round does not change how ChatGPT works today. It does tell you a lot about where the AI industry is heading.
- Expect more capacity: much of this money is aimed at computing power, which usually means faster models and fewer usage limits over time.
- Watch pricing: companies spending hundreds of billions on chips need revenue, so paid plans and business tiers may keep expanding.
- Keep options open: with OpenAI and Anthropic both racing ahead, it pays to compare tools like ChatGPT and rivals rather than locking into one.
- Plan for change: if your team relies on these tools, our guide to AI business tools can help you build a backup plan.
If you invest, remember that OpenAI is still private and these are negotiating figures. Nothing here is a public offering you can buy into yet. For more daily updates, browse our latest AI news.
Sources
Original reporting from CNBC. Additional reporting from TechCrunch.
Conclusion
OpenAI is reportedly days away from locking in up to $30 billion at a $1.25 trillion pre-money valuation, led by UAE investors and Coatue. The deal would make it the most valuable private company ever and fund its massive push for computing power. It also buys time before an IPO while Anthropic prepares its own listing. Until signatures are in place, the numbers could still shift, so watch for an official confirmation in the coming week.
