OpenAI is close to finishing a funding round of up to $30 billion that would value the company at $1.25 trillion before the new money comes in, according to TechCrunch, which cited CNBC’s reporting on October 22, 2026. Terms are still being negotiated, and OpenAI has not announced a deal.
This article reflects reporting available as of October 26, 2026.
What Has Been Reported
- Size: up to $30 billion. The final amount may be lower.
- Valuation: $1.25 trillion pre-money, which is the value before new money is added. If the full $30 billion is raised, that implies roughly $1.28 trillion afterward.
- Investors: the round is led by Coatue and investors from the United Arab Emirates, according to CNBC’s sources. CNBC also reports the UAE funding could be paired with a deal to give OpenAI more computing capacity from the UAE.
- Timing: OpenAI told investors it wants signatures by around October 30, according to reports.
- Company response: OpenAI declined to comment on the report.
How It Compares With Earlier Reports
Bloomberg reported about a month earlier that OpenAI was working on a $30 billion round at a $1.4 trillion valuation. The latest reported figure is about $150 billion lower. A report carried by the Associated Press says some prospective backers pushed back on the higher price.
OpenAI’s previous round came in March, when it raised $122 billion at an $852 billion post-money valuation. OpenAI also filed confidential paperwork for an IPO in June, TechCrunch reports. If this round closes above $1 trillion, it would make OpenAI the most valuable private company ever.
Why It Matters
- The spending needs are huge. CNBC reports that OpenAI told investors in February that it is targeting roughly $600 billion in total computing spending by 2030.
- A private round delays public scrutiny. According to reports, raising privately lets OpenAI add capital before an IPO without putting its valuation in front of public markets right away.
- Expectations rise with the price. A valuation this high raises the bar for what OpenAI must deliver. The round arrives while economists and analysts debate whether AI spending is running ahead of revenue.
- Rivals are affected. TechCrunch notes the valuation could have ramifications for Anthropic’s expected IPO.
What Is Still Unconfirmed
The round is not final. The amount, price, and investors could change, and the reporting relies on anonymous sources. “Up to $30 billion” does not mean OpenAI will raise the full amount. Neither OpenAI nor the reported investors have confirmed terms publicly.
What to Watch Next
- Whether OpenAI collects commitments by its target date, and how much it raises.
- Whether the final valuation matches the $1.25 trillion figure.
- Any announcement of a computing deal tied to the UAE investors.
- Any update on IPO timing, which OpenAI has not stated publicly.
Bottom Line
OpenAI appears to be nearing a very large private funding round at a valuation below an earlier reported figure but well above its March level. Until the deal is confirmed, the numbers should be treated as reported, not final. At Future AI Wire, we’ll update our coverage as more details are confirmed.
Frequently Asked Questions
How much is OpenAI raising?
Reports say up to $30 billion. The final amount could be lower.
What does pre-money valuation mean?
It is a company’s value before new investment is added. Adding $30 billion to a $1.25 trillion pre-money valuation gives roughly $1.28 trillion afterward.
Who is investing in OpenAI’s new round?
CNBC’s sources say Coatue and investors from the United Arab Emirates are leading the round.
Is the OpenAI funding round final?
No. Terms are still being negotiated, and OpenAI has not announced a completed deal.
Has OpenAI filed for an IPO?
TechCrunch reports that OpenAI filed confidentially for an IPO in June. The company has not publicly announced a listing date.
The Future AI Wire Editorial Team covers artificial intelligence, AI agents, agentic AI, and emerging technologies. We publish clear, research-informed explanations and practical insights to help readers understand AI developments, real-world applications, and the technologies shaping the future.