OpenAI is reportedly raising up to $30 billion at a $1.25 trillion pre-money valuation, led by Coatue and UAE investors

OpenAI is reportedly close to another large private funding round. Citing sources who spoke to CNBC, TechCrunch reports that the company is working on raising up to $30 billion at a $1.25 trillion pre-money valuation, in a round led by Coatue and investors in the United Arab Emirates. A Bloomberg report about a month earlier put the valuation at $1.4 trillion for a raise of the same size. Both outlets say terms are still being negotiated and could change. CNBC reports that the UAE funding could come with a deal to secure more computing capacity for OpenAI from the UAE. OpenAI declined to comment. A valuation above $1 trillion would make OpenAI the most valuable private company ever. OpenAI filed confidential IPO paperwork in June, after a March funding round valued it at $852 billion post-money. A higher private valuation would raise expectations for that eventual listing. TechCrunch notes that it could also affect Anthropic's IPO, which many believe is closer. Recent reports say Anthropic is seeking a valuation of $1.5 trillion to $2 trillion as a public company. Both labs are competing for investor money at a time when spending on computing capacity is rising sharply.