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OpenAI is pursuing a new funding round of up to $30 billion while lowering its internal valuation target from an initially pitched $1.4 trillion to $1.25 trillion, according to media reports. UAE investors and Coatue are leading the round; OpenAI has also discussed a UAE compute deal and previously filed confidentially with the SEC as it weighs timing for an eventual IPO.
CNBC reports OpenAI is closing in on a funding round of up to $30 billion led by investors from the United Arab Emirates and Coatue, with a reported pre-money valuation of $1.25 trillion. The round is being framed as a bridge to a potential IPO; OpenAI has confidentially filed a prospectus with the SEC, is negotiating UAE-backed compute capacity, and has internal comments from CFO Sarah Friar and CEO Sam Altman indicating differing public-timing signals.
King Charles held a private summit with major AI figures and UK officials — including Nvidia’s Jensen Huang, OpenAI (CFO Sarah Friar), Anthropic (Tino Cuéllar), AI minister Kanishka Narayan and the head of the UK’s foreign intelligence service — urging industry and governments to find ways to control AI “before it’s too late” and to build international cooperation. The meeting underscored high-level concern about AI’s risks alongside its potential benefits.
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