OpenAI is close to raising up to $30 billion in a funding round at a reported $1.25 trillion valuation before the new investment is added, but the size and terms are still being negotiated.
The proposed valuation does not include the new investment. People familiar with the talks say the final amount to be raised has not been decided. Investors from the United Arab Emirates and investment firm Coatue are reportedly leading the funding.
OpenAI is reportedly presenting the financing as a bridge before a possible public offering. The company has reportedly told investors it hopes to secure signatures by the end of next week. The $1.25 trillion figure is below the roughly $1.4 trillion valuation discussed in earlier fundraising reports.
This suggests negotiations may still change. OpenAI is also reportedly discussing a commercial arrangement with the UAE. The proposed arrangement concerns additional computing capacity.
OpenAI has not publicly confirmed the reported terms or announced a date for a public offering.