OpenAI working on new $30B raise at $1.25T valuation ahead of IPO

OpenAI is reportedly working on raising up to $30 billion at a $1.25 trillion pre-money valuation in a round led by Coatue and UAE investors, per CNBC, following a Bloomberg report a month earlier of a $30 billion raise at a $1.4 trillion valuation. Terms are still being negotiated, and CNBC reports the UAE funding could be coupled with a deal to secure more computing capacity for OpenAI from the UAE. OpenAI filed confidential IPO paperwork in June, after its March raise valued it at $852 billion post-money.