OpenAI is close to raising up to $30 billion at a $1.25 trillion valuation, according to various media reports. Coatue and investors from the UAE will reportedly lead the round. However, both sides are still working out the terms and the deal could change.
If the deal goes through, OpenAI would become the most valuable private company in history. The company last raised money in March 2026 at an $852 billion valuation. As a result, this new round would mark a nearly 50% jump in value in just seven months.
The company’s fast rise in value matches how quickly it now makes money. In fact, OpenAI earned just $28 million in 2022, the year before ChatGPT launched. That figure jumped to $3.7 billion in 2024. Additionally, Bloomberg projects OpenAI will bring in $29.4 billion by the end of 2026.
ChatGPT crossed 500 million weekly users and had over 20 million paying subscribers by April 2025. Because of this, OpenAI’s valuation jumped from $29 billion in January 2023 to $157 billion by October 2024. It then reached $300 billion in March 2025 after SoftBank led a $40 billion round.
According to CNBC, the UAE’s role in the deal may go beyond just money. The funding could come as part of a larger agreement that gives OpenAI access to more computing power from the region. The company has not commented on the report so far.
Bloomberg reported a similar deal about a month ago but with a higher valuation of $1.4 trillion. The lower figure in the latest report suggests that the terms may have shifted since then. The high valuation would also raise the bar for OpenAI’s eventual stock market listing. Meanwhile, OpenAI filed confidential IPO paperwork in June, which means a public listing could come soon.
OpenAI is not the only AI company chasing record valuations right now. Its rival Anthropic raised $65 billion at a $965 billion valuation in May and also filed for an IPO in June. Furthermore, CNBC reports that Anthropic now wants a valuation between $1.5 trillion and $2 trillion when it goes public.