CNBC reports OpenAI is close to raising up to $30B at a $1.25T valuation, led by UAE investors with Coatue participating, in a round pitched as a bridge to a likely 2027 IPO (CNBC).

CNBC reports OpenAI is close to raising up to $30B at a $1.25T valuation, led by UAE investors with Coatue participating, in a round pitched as a bridge to a likely 2027 IPO (CNBC).

The terms are still being finalized. The same report says OpenAI is separately negotiating more UAE computing capacity, after telling investors in February it targets about $600B in compute spend by 2030.

The $1.25T figure is below last month's reported Bloomberg target of at least $30B at about $1.4T, but still up nearly $400B from its $852B valuation in March (Coin Bureau). CNBC notes CFO Sarah Friar told staff in August that OpenAI "will be a public company in 2027," while CEO Sam Altman said in September that now would be ill advised to go public.