# OpenAI nears up to $30bn funding round at $1.25tn valuation, led by Coatue and UAE investors

Business & Markets · 22 October 2026 · San Francisco, United States
URL: https://connectthedots.news/event/2026-10-22-openai-nears-up-to-30bn-funding-round-at-1-25tn-valuation-led-by

> OpenAI is reportedly close to raising up to $30bn at a $1.25tn pre-money valuation as a bridge before a possible IPO, as rival Anthropic prepares to list.

OpenAI is close to finalizing a funding round of up to $30 billion at a $1.25 trillion pre-money valuation, CNBC reported on 22 October, citing unnamed sources. The round is reportedly led by the US investment firm Coatue, with investors from the United Arab Emirates taking part. Terms are still being negotiated and OpenAI declined to comment. [1][2]

OpenAI told investors it aims to secure signatures by the end of next week, and the final size has not been set, according to CNBC. The company describes the raise as an "opportunistic" bridge before a potential IPO; it filed confidential IPO paperwork in June. [1][2]

The valuation is below the $1.4 trillion target reported by Bloomberg about a month earlier, but above the $852 billion post-money valuation of OpenAI's March round. At over $1 trillion it would make OpenAI the most highly valued private company ever. CNBC also reported that the UAE money could be paired with a deal giving OpenAI more computing capacity in the UAE. [1]

Reuters reported on 19 October that OpenAI was rushing to lock in investors before Anthropic goes public, as both companies court the same backers. Anthropic, which filed confidentially for an IPO in June, is reportedly seeking a $1.5 trillion to $2 trillion valuation, and its public filing could come any day. [1][2]

## Who was involved

- [OpenAI](https://connectthedots.news/org/openai): Reportedly near a raise of up to $30bn at a $1.25tn pre-money valuation [1][2]
- [Coatue Management](https://connectthedots.news/org/coatue-management): Reportedly leading OpenAI's new funding round [1]
- [Anthropic](https://connectthedots.news/org/anthropic): Rival preparing an IPO; OpenAI reportedly racing to raise money before it lists [1][2]

## Linked stories

- Related to: [Anthropic's draft IPO filing shows an $80 billion first-half loss as investors weigh a lower valuation](https://connectthedots.news/event/2026-10-21-anthropics-draft-ipo-filing-shows-an-80-billion-first-half-loss-as) (21 October 2026)

## Sources

1. TechCrunch, "OpenAI working on new $30B raise at $1.25T valuation ahead of IPO", 22 October 2026: https://techcrunch.com/2026/10/22/openai-working-on-new-30b-raise-at-1-25t-valuation-ahead-of-ipo/
2. PYMNTS, "OpenAI Aims to Lock In $30 Billion Funding Round by Next Week", 22 October 2026: https://www.pymnts.com/news/artificial-intelligence/2026/openai-aims-to-lock-in-30-billion-funding-round-by-next-week/