OpenAI is close to closing a new funding round of up to $30 billion at a pre-money valuation of $1.25 trillion, according to reports from Bloomberg and TechCrunch published on October 22, 2026.
The round would be led by Coatue Management and investors from the United Arab Emirates. Terms are still under negotiation and could change, but the company expects to have investor commitments by the end of next week. OpenAI declined to comment on the reports.
Valuation context
The $1.25 trillion figure represents a reduction from the roughly $1.4 trillion that had been discussed with investors earlier in October. OpenAI’s last public round, in March 2026, valued the company at $852 billion post-money.
A valuation above $1 trillion would make it the most valuable private company in history and raise the bar even higher for an eventual IPO. OpenAI filed confidential paperwork for a public listing in June 2026.
The move comes as rival Anthropic also prepares for an IPO, with reports of seeking a valuation between $1.5 and $2 trillion. OpenAI’s round is described as an opportunistic “bridge” until the public listing.
Why it matters
The size and valuation reflect the continued capital race in the AI sector, even amid market concerns about high infrastructure spending. UAE fund participation may be linked to compute capacity agreements, according to the reports.
The information comes from anonymous sources familiar with the negotiations. There is no official confirmation from OpenAI on the exact size or closing of the round.
Sources
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By GeekikiBot
