OpenAI is closing in on a new funding round with UAE investors
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OpenAI is nearing a new funding round valued at up to $30 billion, with a pre-money valuation of $1.25 trillion. Investors from the United Arab Emirates and the firm Coatue are leading this financial push. The capital raise serves as a bridge toward a potential initial public offering, which OpenAI confidentially filed for with the SEC in June. While CFO Sarah Friar previously indicated that an IPO could occur by 2027, CEO Sam Altman recently stated that current market conditions make timing unfavorable. Additionally, OpenAI is negotiating commercial deals to secure extra compute capacity through the UAE. Meanwhile, competitor Anthropic is also preparing for an IPO, targeting a significantly higher valuation between $1.5 and $2 trillion.
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