OpenAI is close to raising up to $30 billion, led by investors from the United Arab Emirates and investment firm Coatue, according to CNBC. Its valuation before the new funding would be $1.25 trillion and could reach $1.28 trillion with the proceeds. The financing is intended as a bridge to a potential IPO in 2027, for which the company confidentially filed with the US Securities and Exchange Commission in June. OpenAI is also negotiating a commercial agreement with the UAE to secure additional computing capacity, while it expects to spend approximately $600 billion on computing infrastructure by 2030. The company faces growing competition from Anthropic, which is also preparing for an IPO and is reportedly seeking a valuation between $1.5 trillion and $2 trillion.
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