OpenAI negotiates another private financing round ahead of a possible IPO

CNBC reports talks for up to $30 billion at a $1.25 trillion pre-money valuation; size and signatures remain unsettled.

OpenAI is negotiating a private funding round of up to $30 billion at a $1.25 trillion pre-money valuation, CNBC reported on October 22, citing people familiar with the discussions. Investors from the United Arab Emirates and Coatue were described as leading the proposed financing.

CNBC said the final size was still being determined and that OpenAI was aiming to obtain signatures the following week. Those details describe negotiations, not a completed round. The reported valuation excludes the new capital that might be raised.

Financing and capacity discussions overlap

One source told CNBC that OpenAI was also negotiating a commercial agreement for additional computing capacity from the UAE. The report positioned the fundraising as a bridge before a possible public listing.

A capital investment and a compute contract are separate transactions. A potential link between them does not establish that a particular facility has been delivered or that capacity is already available to customers.

Keep the deal stage visible

The headline figures are large enough to shape discussion of the AI industry’s funding requirements. Their meaning nevertheless depends on whether terms are agreed, documents are signed and money is received.

An expected valuation is also distinct from the eventual price of shares in a public offering. A confidential filing, private financing talks and a market debut each have different requirements and timelines.

The report provides a specific account of the discussions as of October 22. Until a later closing announcement or other reliable evidence establishes the outcome, the accurate description remains a proposed private financing with terms under negotiation.

Sources

- [OpenAI nears up to $30 billion funding round](https://www.cnbc.com/2026/10/22/openai-funding-round-uae-investors.html) — CNBC