OpenAI is reportedly close to a $30 billion round at up to a $1.25 trillion valuation

OpenAI is close to closing a new funding round of about $30 billion that would value the company at up to $1.25 trillion, according to a CNBC report. That would make it the most valuable private company ever.

According to the report, the round is being led by investors from the United Arab Emirates, with US venture firm Coatue expected to take part. A person familiar with the deal said OpenAI hopes to have investors sign before the end of next week, although the final size had not been settled. The UAE investors reportedly first approached OpenAI the month before, and Bloomberg reported on those early talks at the time.

The round is being described as an opportunistic bridge. It would give OpenAI capital to keep investing in compute, products and hiring while it prepares for an initial public offering, which reports point to in 2027. This comes on top of earlier reporting that OpenAI was racing to raise money before Anthropic lists its own shares.

The numbers are large even by recent AI standards. OpenAI is spending heavily on data centers and chips, and its rivals are doing the same, which keeps pressure on every frontier lab to raise again and again. None of the terms have been confirmed by OpenAI.

Why it matters for builders: OpenAI's access to capital directly shapes how hard it can compete on price. The same week, reports described OpenAI offering steep discounts to win coding customers from Anthropic. A war chest this size makes it more likely those discounts continue, which is good news for anyone buying tokens, at least for now.

What's next: watch whether the round closes on the reported timeline and at what final valuation, and for formal steps toward an IPO, such as bank mandates or a confidential filing.

Building with AI? See this week's hot AI repos and how to use each one.