Opting out of a public market debut allows OpenAI to retain strict control over its financial flows amid unprecedented infrastructure expenditures. According to reporting by CNBC, the AI lab is close to securing another massive round of private funding rather than pushing forward with an IPO. As CNBC sources detailed, OpenAI is working to raise up to $30 billion at a $1.25 trillion pre-money valuation in a round led by Coatue alongside investors from the UAE. This echoes a month-old Bloomberg report that also cited plans to raise $30 billion, but at a $1.4 trillion valuation. As both outlets emphasize, terms remain under active negotiation and are subject to change.
Should OpenAI successfully command a valuation exceeding $1 trillion in this round, it will shatter records as the most valuable private company in market history. Such a valuation also raises the stakes considerably for the company's eventual public offering. OpenAI filed confidential paperwork for an IPO back in June, following a March funding event that valued the ChatGPT maker at $852 billion post-money.
Infrastructure Deals and Competitive Pressure
Sourcing capital from Middle Eastern sovereign structures reaches far beyond conventional financial investment. As CNBC notes, the capital injection from the UAE is reportedly tied to securing critical new computing capacity for OpenAI within the region. OpenAI has declined to comment on these negotiations.
This aggressive private valuation spiral also casts a long shadow over Anthropic’s IPO timeline, which many industry observers believe is approaching materialization. Recent reports cited by CNBC indicate that Anthropic is aiming for a valuation between $1.5 trillion and $2 trillion for its own public debut. In May, Anthropic secured $65 billion at a $965 billion valuation—a milestone widely viewed at the time as its final private raise before going public—and subsequently filed confidential paperwork in June.
Evaluating key market counterparties now demands a complete overhaul of liquidity parameters and long-term hardware supply commitments before any upcoming funding rounds reach a close.
Editorial analysis
### How the story developed
In June 2026, OpenAI ran an internal share sale at $687.69 per share to retain core talent. By October, the company told investors its annualized revenue was nearing $50 billion, and it is now raising up to $30 billion from Coatue and UAE investors at a $1.25 trillion valuation. Instead of an IPO, the company continues funding its massive infrastructure bills through private capital. It looks like the company prefers raising mega private rounds over going public to keep tight control as computing costs surge.
Sources: our stories of 11.06.2026, 08.10.2026