OpenAI nears up to $30 billion funding round at $1.25 trillion valuation led by UAE investors
The round is being positioned as a bridge ahead of a possible initial public offering, while OpenAI also seeks more computing capacity from the UAE.
- The San Francisco-based OpenAI is raising up to $30 billion at a $1.25 trillion valuation, with investors from the United Arab Emirates leading the round alongside Coatue.
- Alongside the new investment, OpenAI is negotiating a commercial deal to secure more computing capacity from the UAE, an arrangement aimed at helping the firm obtain additional power as it expands.
- CFO Sarah Friar told employees a listing will likely come in 2027, as the financing is being positioned as an "opportunistic" bridge ahead of a potential IPO for which OpenAI has filed confidentially.
- Investors were told Thursday that OpenAI aims to secure signatures by the end of next week, though the final size of the round is still being determined.
- This fundraising occurs amid choppy tech markets and rising interest rates, with jitters surrounding CoreWeave, while Anthropic's expected IPO will serve as a key test of investor appetite for the sector.
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American OpenAI, a ChatGPT developer, is close to completing its next round of up to $30 billion in estimated total value of $1.25 trillion (before new funds are raised), reporting to CNBC with reference to sources.
The US company wants to raise fresh capital, which is expected to be $150 billion lower than it was last negotiated.
The Financial Times (FT) reported on the 22nd (local time), citing sources familiar with the matter, that OpenAI, the developer of ChatGPT, has lowered its enterprise value target from the previous $1.4 trillion (approximately 1,850 trillion won) to $1.25 trillion (1,652 trillion won). This downward adjustment of the valuation target comes amid growing market anxiety regarding the sustainability of recent AI infrastructure investments, and as U.…
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