OpenAI lines up Coatue and UAE money at a $1.25 trillion valuation

OpenAI told investors on Thursday that it wants signatures by the end of next week for a funding round led by Coatue and investors from the United Arab Emirates that could raise as much as $30 billion at a $1.25 trillion pre-money valuation. The figure excludes the new money; adding the full $30 billion would put OpenAI’s post-money value at $1.28 trillion, a record for a private company. OpenAI’s March round was valued at $852 billion post-money, making the new pre-money mark $400 billion higher seven months later. The financing is described as opportunistic bridge money ahead of a potential initial public offering, and OpenAI is in talks for a commercial deal for additional computing capacity from the UAE.