OpenAI trims its valuation target to $1.25tn for a pre-IPO round
OpenAI is close to raising up to $30bn led by UAE investors and Coatue at a $1.25tn pre-money valuation, below the $1.4tn it pitched earlier this month, according to CNBC and the FT.
Source published · In the Daily Brief of 23 October 2026
Filed under AI industry, Markets
OpenAI is nearing a funding round of up to $30bn at a pre-money valuation of $1.25tn, led by investors from the United Arab Emirates and Coatue, CNBC reported on 22 October. The round is described as a bridge ahead of a stock market listing, and OpenAI is also negotiating a deal for more computing capacity in the UAE, according to the report.
The Financial Times reported that the company cut its target from the $1.4tn valuation it floated earlier in October after resistance from some investors. Bloomberg reported that the talks were being finalised at the lower figure.