OpenAI is reportedly nearing the completion of a significant round of private funding, opting for this route instead of pursuing an initial public offering (IPO). The artificial intelligence laboratory is aiming to raise as much as $30 billion at a pre-money valuation of $1.25 trillion, with the funding round being led by Coatue and investors from the UAE, according to hinews. This development follows a similar report from a month ago by Bloomberg, which indicated that OpenAI was attempting to secure $30 billion at a valuation of $1.4 trillion. Negotiations regarding the terms are still ongoing, and both news outlets suggest that these terms may change. Additionally, hinews reports that the funding from the UAE could be linked to an agreement that would provide OpenAI with increased computing capacity from the region.
OpenAI has chosen not to comment on the matter. If the company achieves a valuation exceeding $1 trillion in this funding round, it would set a new record as the highest-valued private company in history. Such a valuation would also elevate expectations for OpenAI’s anticipated IPO. The company submitted confidential documentation for an IPO in June, following its previous funding round in March, which valued the creator of ChatGPT at $852 billion post-money. This elevated valuation could also impact the IPO plans of Anthropic, which many speculate is nearing fruition. There are rumors that Anthropic could file its public S-1 document imminently.
Recent reports indicate that Anthropic is targeting a valuation between $1.5 trillion and $2 trillion for its public offering, according to hinews. In May, Anthropic raised $65 billion at a valuation of $965 billion, which many believed would be its final significant funding round before going public. The company also filed confidential paperwork in June.
