OpenAI reportedly seeks $30 billion at a $1.25 trillion valuation

OpenAI is reportedly seeking as much as $30 billion in additional financing before a possible stock market debut. The proposed valuation is $1.25 trillion before counting the new investment, and negotiations remain unfinished.

Coatue and investors based in the United Arab Emirates are reportedly leading the discussions. OpenAI is also said to be negotiating a separate arrangement for additional computing capacity from the UAE. Neither arrangement should be treated as completed.

The talks follow a financing that OpenAI announced on March 31. The company said it secured commitments totaling $122 billion, valuing the business at $852 billion after that investment. OpenAI has described expanding computing resources as central to its research, products and business growth.

OpenAI reportedly wants investor signatures by October 30, although the final fundraising amount remains unsettled. That target concerns the private financing and does not establish a date for a public listing.