OpenAI is reportedly discussing a funding round of up to $30 billion at a $1.25 trillion pre-money valuation, though terms remain unsettled.
OpenAI is reportedly working on a private funding round of up to $30 billion at a $1.25 trillion pre-money valuation, TechCrunch reported on October 22, 2026, citing CNBC. The reported round is being led by Coatue and investors in the United Arab Emirates, but the terms remain under negotiation and could change. OpenAI declined to comment to TechCrunch.
The potential financing would come as the company prepares for a possible public offering, rather than moving directly to an IPO. CNBC also reported that UAE investment could be linked to an arrangement for OpenAI to secure additional computing capacity from the region; that possibility was not presented as a finalized agreement.
The proposed valuation would be a substantial increase from OpenAI’s last reported funding milestone. TechCrunch said the company’s March 2026 round valued it at $852 billion post-money. It also noted that a Bloomberg report a month earlier described a possible $30 billion raise at a $1.4 trillion valuation, underscoring that the figures under discussion have shifted and are not settled terms.
OpenAI filed confidential IPO paperwork in June, according to TechCrunch. A valuation above $1 trillion in a new private round would set a high benchmark for a future public-market debut, but the article does not report that the round has closed or that an IPO date has been set.
The negotiations may also be relevant to Anthropic’s fundraising and listing plans. TechCrunch, citing CNBC, reported that Anthropic was seeking a $1.5 trillion to $2 trillion valuation for a public debut. Anthropic raised $65 billion at a $965 billion valuation in May and also filed confidential IPO paperwork in June. Those reported targets remain distinct from completed transactions or confirmed public-offering terms.