OpenAI Cuts Valuation to $1.25 Trillion as It Nears $30 Billion Funding Round

OpenAI is close to finalizing a funding round of up to $30 billion. The round values the company at $1.25 trillion before new money is counted, according to people familiar with the deal. The sources asked not to be named because the details are confidential. CNBC reported the news on Thursday. Investors from the United Arab Emirates are leading the financing. Coatue, a U.S. investment firm, is also taking part. The round is being described as an “opportunistic” bridge ahead of a possible initial public offering. It would give the San Francisco-based company more capital before it goes public. The Financial Times reported that OpenAI lowered its valuation target by $150 billion. The earlier reported figure was $1.4 trillion.