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

OpenAI is reportedly close to raising up to $30 billion at a $1.25 trillion pre-money valuation in a round led by Coatue and UAE investors, according to CNBC. Terms are still being negotiated, and the UAE funding could be tied to a deal for more computing capacity; OpenAI filed confidential IPO paperwork in June after its March round valued it at $852 billion post-money.

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