OpenAI is reportedly close to securing another mega round of private funding, rather than plowing ahead with an IPO. The AI lab is working on raising up to $30 billion at a $1.25 trillion pre-money valuation in a round led by Coatue and investors in UAE, sources told CNBC.
This follows a similar report by Bloomberg a month ago which said the AI lab was working on raising $30 billion at a $1.4 trillion valuation. Terms are still being negotiated, both outlets report, so they could ultimately change. CNBC reports that the UAE funding could also be coupled with a deal to secure more computing capacity for OpenAI from the UAE, too. OpenAI declined comment.
