OpenAI is reportedly seeking approximately $30 billion in fresh private investment at a valuation of $1.25 trillion, as the company prepares for a possible public listing in 2027.
The proposed valuation is $150 billion below the $1.4 trillion figure previously discussed, according to reporting by Bloomberg and CNBC.
Investment firm Coatue Management and funds from the United Arab Emirates are among potential participants. Negotiations could also involve additional computing infrastructure arrangements.
The fundraising follows OpenAI's $122 billion investment round in March, which valued the company at approximately $852 billion after the investment.
The discussions reflect wider questions about the economics of AI development, including the enormous investments required to build frontier AI infrastructure.
They also follow growing competition among well-funded AI laboratories, illustrated by NVIDIA's investment in Safe Superintelligence.
Neither the funding amount nor the valuation is finalized. OpenAI has declined to comment publicly on the negotiations.