🇺🇸OpenAI is negotiating up to $30 billion in financing at a $1.25 trillion pre-money valuation; final terms remain unsettled.

Telegram reporting attributed to CNBC describes negotiations for up to $30 billion, with investors from the United Arab Emirates and Coatue reportedly co-leading the round. The $1.25 trillion valuation is pre-money, excluding the proposed new investment, and the final fundraising amount remains undetermined.

OpenAI reportedly told investors that it aimed to obtain agreement signatures by the end of the following week. Sources characterized the transaction as an “opportunistic bridge financing” ahead of a potential initial public offering (IPO), not as a completed financing or confirmed listing.

A separate report says the valuation discussed in negotiations had fallen from $1.4 trillion to $1.25 trillion, a $150 billion reduction. It also states that OpenAI’s previous financing, in March, raised $122 billion at an $852 billion post-money valuation; that historical figure uses a different valuation basis from the current proposal.

Chief Financial Officer Sarah Friar reportedly told employees that an IPO could occur in 2027. Separately, OpenAI was negotiating a commercial agreement for additional computing capacity from the UAE; the supplied reports disclose neither a signed capacity contract nor its hardware, power, or delivery terms.