OpenAI Nears $30 Billion Round at $1.25 Trillion Valuation
OpenAI is close to raising up to $30 billion at a $1.25 trillion valuation, with Coatue and UAE investors leading, ahead of a possible IPO after June's confidential filing.
By Amara Osei
2 min read
What's News
- OpenAI is close to raising up to $30 billion at a $1.25 trillion valuation, per media reports.
- OpenAI's last raise in March 2026 valued it at $852 billion; the new round implies a near-50% jump in seven months.
- Bloomberg projects OpenAI revenue of $29.4 billion by the end of 2026, up from $3.7 billion in 2024.
- OpenAI filed confidential IPO paperwork in June.
- Anthropic raised $65 billion at a $965 billion valuation in May and targets $1.5-$2 trillion at its IPO.
OpenAI is close to raising up to $30 billion at a $1.25 trillion valuation, according to multiple media reports. Coatue and investors from the United Arab Emirates would lead the round. Terms are still under negotiation and the deal could change.
If completed, the round would make OpenAI the most valuable private company in history. The company last raised money in March 2026 at an $852 billion valuation. The new terms imply a jump of nearly 50% in seven months.
Why does the valuation keep climbing?
The numbers track OpenAI's revenue curve. The company earned $28 million in 2022, the year before ChatGPT launched. Revenue reached $3.7 billion in 2024, and Bloomberg projects $29.4 billion by the end of 2026.
User growth tells the same story. ChatGPT crossed 500 million weekly users and topped 20 million paying subscribers by April 2025. OpenAI's valuation rose from $29 billion in January 2023 to $157 billion by October 2024. It hit $300 billion in March 2025 after SoftBank led a $40 billion round.
What does the UAE bring to the table?
The UAE's role may go beyond capital, according to CNBC. The funding could form part of a larger agreement giving OpenAI access to more computing power from the region. OpenAI has not commented on the report.
The valuation itself has moved. Bloomberg reported a similar deal roughly a month ago at $1.4 trillion. The lower figure in the latest report suggests terms have shifted since then.
What does this mean for the IPO?
A $1.25 trillion private price raises the bar for OpenAI's eventual stock market listing. The company filed confidential IPO paperwork in June, which points to a public listing coming soon.
OpenAI isn't alone in chasing record numbers. Rival Anthropic raised $65 billion at a $965 billion valuation in May and also filed for an IPO in June. CNBC reports Anthropic now wants a valuation between $1.5 trillion and $2 trillion when it goes public.
Two AI companies, both weighing trillion-dollar-plus listings within months of each other, set up a direct contest for public-market capital — and a test of how much more the AI boom can stretch.
Source: GN: Startup IPO
More from Amara Osei
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Senior reporter covering companies, deals and strategy in entrepreneurship, startups and venture funding at Business Bearings.
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