OpenAI nears $30B raise at $1.25T pre-money valuation

OpenAI is finalizing a round of up to $30 billion at a $1.25 trillion pre-money valuation led by UAE investors alongside Coatue, CNBC reported on October 22, 2026, with signatures targeted by the end of the following week. Bloomberg reported the target was cut by $150 billion from an earlier $1.4 trillion because some investors balked, and that OpenAI is separately negotiating more UAE compute toward roughly $600 billion of spend by 2030.