OpenAI nears $30 billion funding at $1.25 trillion valuation
SingTao · 2 SOURCESabout 1 hour ago2 MIN
Summary
OpenAI is reportedly nearing completion of a fresh fundraising round that could bring in about US$30 billion at a US$1.25 trillion valuation, as the company moves closer to a potential initial public offering. The deal is said to be targeted for signing by next weekend, although the final amount has not yet been fixed.
Key Points
- CNBC, cited by SingTao, reported that investors from the United Arab Emirates and hedge fund Coatue are co-leading the round as bridge financing before a possible IPO
- on.cc reported that Coatue Management is in talks to co-lead the fundraising, with investor capital commitments expected to be finalized by next weekend
- SingTao said OpenAI confidentially submitted a draft prospectus to the US Securities and Exchange Commission in June, but no listing timetable has been disclosed
- on.cc said the valuation under discussion was previously US$1.4 trillion and has since been reduced by US$150 billion to US$1.25 trillion
- SingTao reported that OpenAI is also discussing a commercial agreement to secure more computing capacity from the United Arab Emirates, after telling investors in February that total computing spending could reach about US$600 billion by 2030
Why It Matters
For Hong Kong readers tracking global AI competition, the reported fundraising shows how access to capital and computing power is becoming as important as model development itself. If completed, the round would also mark another sharp step-up from OpenAI's last disclosed financing in March, when it raised US$122 billion at a post-money valuation of US$852 billion, underscoring how quickly investor expectations are being repriced in the AI sector