Report: OpenAI closing on $30B ‘bridge’ funding round to tide it over before IPO

Artificial intelligence leader OpenAI Group PBC might have plans to go public in the near future, but it isn’t done with private funding rounds. Indeed, it’s currently believed to be negotiating with investors an additional $30 billion investment that would bring its valuation to a staggering $1.25 trillion, which would make it the most valuable private company of all time. A report in CNBC today said OpenAI is holding discussions with prospective backers from the United Arab Emirates, who will lead the new round, with the U.S. venture capital firm Coatue expected to participate too. The round is being positioned as an “opportunistic” bridge for OpenAI, to provide it with the capital it needs to continue investing in its business while finalizing plans for an initial public offering.