OpenAI is reportedly close to securing another mega round of private funding — up to $30 billion at a $1.25 trillion pre-money valuation — in a round led by Coatue and investors in the UAE, according to a CNBC report published on 22 October 2026 (TechCrunch, “OpenAI working on new $30B raise at $1.25T valuation ahead of IPO”, 22 October 2026).
How much is OpenAI raising and at what valuation?
OpenAI is working on raising up to $30 billion at a $1.25 trillion pre-money valuation, and terms are still being negotiated, so they could ultimately change, CNBC reported on 22 October 2026 (TechCrunch, “OpenAI working on new $30B raise at $1.25T valuation ahead of IPO”, 22 October 2026). TechCrunch characterizes the raise as a private mega round rather than plowing ahead with an IPO. OpenAI declined comment on the round (TechCrunch, “OpenAI working on new $30B raise at $1.25T valuation ahead of IPO”, 22 October 2026).
Who is leading OpenAI’s new funding round?
Coatue and investors in the UAE are lined up to lead the round, according to sources cited by CNBC on 22 October 2026 (TechCrunch, “OpenAI working on new $30B raise at $1.25T valuation ahead of IPO”, 22 October 2026). CNBC reports that the UAE funding could also be coupled with a deal to secure more computing capacity for OpenAI from the UAE (TechCrunch, “OpenAI working on new $30B raise at $1.25T valuation ahead of IPO”, 22 October 2026).
How does the $1.25 trillion valuation compare with OpenAI’s earlier rounds?
Should OpenAI command a valuation of more than $1 trillion with this round, it would break records as the most valued private company ever (TechCrunch, “OpenAI working on new $30B raise at $1.25T valuation ahead of IPO”, 22 October 2026). OpenAI’s last raise, in March 2026, valued the ChatGPT maker at $852 billion post-money; that $122 billion fund raise included $3 billion from retail investors (TechCrunch, “OpenAI, not yet public, raises $3B from retail investors in monster $122B fund raise”, 31 March 2026). In an earlier report on 29 September 2026, Bloomberg said OpenAI was working on raising $30 billion at a $1.4 trillion valuation (TechCrunch, “OpenAI reportedly in talks to raise $30B round at $1.4T valuation”, 29 September 2026).
| Date | Round | Size | Valuation |
|---|---|---|---|
| 31 March 2026 | Private fund raise (included $3 billion from retail investors) | $122 billion | $852 billion post-money |
| 29 September 2026 | Reported talks (Bloomberg) | up to $30 billion | $1.4 trillion |
| 22 October 2026 | Round in negotiation (CNBC) | up to $30 billion | $1.25 trillion pre-money |
When will OpenAI IPO?
OpenAI filed confidential paperwork for an IPO on 8 June 2026, and the 22 October 2026 reporting does not specify a public listing date (TechCrunch, “Following Anthropic, OpenAI files confidentially for IPO”, 8 June 2026). TechCrunch frames the new private round as capital raising done “rather than plowing ahead with an IPO” (TechCrunch, “OpenAI working on new $30B raise at $1.25T valuation ahead of IPO”, 22 October 2026). A valuation above $1 trillion would also raise the bar even higher for OpenAI’s forthcoming IPO, according to TechCrunch’s 22 October 2026 report.
What does OpenAI’s new valuation mean for Anthropic’s IPO?
A valuation above $1 trillion for OpenAI could also have ramifications for Anthropic’s IPO, which many believe is closer to materializing (TechCrunch, “OpenAI working on new $30B raise at $1.25T valuation ahead of IPO”, 22 October 2026). The latest reports have Anthropic seeking a $1.5 to $2 trillion valuation for its public debut, CNBC reports (TechCrunch, “OpenAI working on new $30B raise at $1.25T valuation ahead of IPO”, 22 October 2026). Anthropic raised $65 billion at a $965 billion valuation in May 2026, in what many believed at the time would be its last big round before an IPO (TechCrunch, “Anthropic raises $65 billion, nears $1T valuation ahead of IPO”, 28 May 2026). Anthropic also filed confidential IPO paperwork in June 2026 (TechCrunch, “Following Anthropic, OpenAI files confidentially for IPO”, 8 June 2026). TechCrunch adds that rumors suggest Anthropic’s public S-1 filing could appear any day now (TechCrunch, “OpenAI working on new $30B raise at $1.25T valuation ahead of IPO”, 22 October 2026).
| Company | Last private round | Valuation at last round | IPO status |
|---|---|---|---|
| OpenAI | $122 billion (March 2026) | $852 billion post-money | Confidential filing filed June 2026; negotiating up to $30 billion at $1.25 trillion pre-money |
| Anthropic | $65 billion (May 2026) | $965 billion | Confidential filing filed June 2026; reportedly seeking $1.5 to $2 trillion at public debut |
Sources
- TechCrunch — OpenAI working on new $30B raise at $1.25T valuation ahead of IPO — CNBC-sourced report on OpenAI’s up-to-$30 billion round at a $1.25 trillion pre-money valuation, led by Coatue and UAE investors, with Anthropic IPO context.