OpenAI is reportedly close to securing another mega-round of private funding, rather than embarking on an IPO. The AI lab is working to raise up to $30 billion at a pre-money valuation of $1.25 trillion in a round led by Coatue and investors in the United Arab Emirates, sources told CNBC.
This follows a similar report from Bloomberg a month ago, which said the AI lab was working to raise $30 billion at a valuation of $1.4 trillion. The conditions are still being negotiated, report the two media, and could therefore possibly change. CNBC reports that the UAE funding could also be linked to a deal to get more computing capacity for OpenAI from the UAE. OpenAI declined to comment.
If OpenAI were valued at over $1 trillion this round, it would break records as the most valuable private company of all time. This valuation would also set the bar even higher for OpenAI’s upcoming IPO. OpenAI filed confidential documents for an IPO in June, after its latest raise in March valued the maker of ChatGPT at $852 billion post-money.
This high valuation could also have implications for Anthropic’s IPO, which many believe is close to materializing. (Rumors suggest we could see Anthropic’s S-1 public filing any day now.) The latest reports indicate Anthropic is seeking a valuation of $1.5 billion to $2 trillion for its public debut, CNBC reports. Anthropic raised $65 billion at a valuation of $965 billion in May, which many thought at the time would be its last big funding round before an IPO. She also filed confidential documents in June.
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