OpenAI nears funding round of up to $30 billion led by UAE investors
Original title: OpenAI is closing in on a new funding round with UAE investors
CNBC says the pre-money valuation is $1.25 trillion, with the round framed as a bridge toward a possible IPO.
According to CNBC, OpenAI is closing in on a funding round of up to $30 billion at a $1.25 trillion pre-money valuation, led by investors from the United Arab Emirates and Coatue. The funding is described as a bridge ahead of a potential IPO. OpenAI is also negotiating a commercial deal for additional compute capacity through the UAE, CNBC reports. The company confidentially filed an IPO prospectus with the SEC in June, while public comments on listing timing have differed.
Unconfirmed: The round size, valuation, and UAE compute talks are reported by CNBC and the round is not described as closed.
- CFO Sarah Friar told employees in August that OpenAI would be public by 2027.
- CEO Sam Altman said in September that timing for going public was unfavorable.
- CNBC also reports OpenAI is negotiating UAE compute capacity.
- Anthropic is separately preparing an IPO, targeting $1.5 trillion to $2 trillion.
From the original article
1 min read at the-decoder.com
OpenAI is on the verge of a new funding round worth up to $30 billion. The article OpenAI is closing in on a new funding round with UAE investors appeared first on The Decoder.
By Maximilian Schreiner · the-decoder.com
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