OpenAI working on up to $30 billion raise at $1.25 trillion valuation

OpenAI, the maker of ChatGPT, is working on a new funding round of up to $30 billion, Mint and TechCrunch reported. The valuation is $1.25 trillion, which TechCrunch says is pre-money. The round comes ahead of the company's IPO.

TechCrunch first reported that Coatue and investors in the UAE would lead the round. It also first reported that terms are still being negotiated. The UAE money could be paired with a deal for computing capacity. OpenAI declined to comment.

The number differs from an earlier figure. Bloomberg had reported a valuation of $1.4 trillion for a $30 billion raise a month before, as cited by TechCrunch. For comparison, TechCrunch first reported that OpenAI's March raise valued it at $852 billion post-money. It also first reported that OpenAI filed confidentially for its IPO in June.

Mint first reported that investor concerns about AI spending are mounting and that OpenAI has delayed its IPO until next year. TechCrunch first reported that a valuation above $1 trillion would make OpenAI the most valued private company ever. It also first reported that Anthropic is seeking $1.5 to $2 trillion for its IPO, after raising $65 billion at $965 billion in May and filing confidentially in June.