OpenAI trims valuation to $1.25 trillion in $30 billion raise
OpenAI is nearing a raise of up to $30 billion at a $1.25 trillion pre-money valuation, led by UAE investors and Coatue, CNBC reported Thursday. Bloomberg said that is about $150 billion below the $1.4 trillion OpenAI first sought; OpenAI declined to comment.
AI-assisted · US Brief desk · Sources listed below
What happened
OpenAI is close to raising up to $30 billion at a $1.25 trillion valuation before the new money, with investors from the United Arab Emirates and the hedge fund Coatue leading, CNBC reported Thursday. CNBC described the round as an "opportunistic" bridge ahead of a potential IPO and said OpenAI aims to have signatures by the end of next week; the final size is not set.
Why it matters
OpenAI is also negotiating a compute deal with the UAE and is targeting roughly $600 billion in computing spending by 2030, CNBC reported, so outside cash remains central to its plans. Rival Anthropic raised $65 billion at a $965 billion valuation in May and is seeking $1.5 trillion to $2 trillion in an IPO expected as soon as November, according to the reports.
More context
The price cut: Bloomberg reported OpenAI shifted the valuation to $1.25 trillion from the $1.4 trillion it had pitched, a reduction of about $150 billion, and that BlackRock was among firms in talks. OpenAI declined to comment.
Timeline: In March, OpenAI raised $122 billion at an $852 billion valuation including the new money (Bloomberg). In June, it filed an IPO prospectus confidentially (CNBC). CFO Sarah Friar has said OpenAI "will be a public company in 2027," while CEO Sam Altman has said "right now would be an ill-advised moment to go public." On Thursday came reports of the $1.25 trillion round.
How outlets framed it: CNBC's headline said OpenAI "nears" a $30 billion round, putting the emphasis on the deal getting done. Bloomberg said OpenAI "shifts" its value, and the Financial Times said it "trims" its target "after pitching higher price," both putting the lower number up front.
What's still unknown: The final amount and investor list, whether the UAE compute deal is tied to the investment, and whether the lower price signals cooling demand or simply a faster close.
4 listed sources
- CNBC, Oct. 22, 2026
- Bloomberg, Oct. 22, 2026
- The Business Times (Bloomberg), Oct. 23, 2026
- Financial Times, Oct. 22, 2026
References listed by US Brief; a source count is not a verification score.
Editorial sourcing notes
Sourcing: CNBC for round size, investors and timing; Bloomberg (via The Business Times) for the earlier $1.4 trillion figure and March round; the FT headline is cited for framing. Figures come from people familiar with the talks and are not final. Photo: Altman (left) at a February 2025 meeting at Japan's Prime Minister's Office (file photo, 2025).
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