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00:02OpenAI is nearing a funding round that could value the company at more than $1 trillion
00:07ahead of a potential initial public offering, according to CNBC.
00:12The company is seeking up to $30 billion at a $1.25 trillion valuation, excluding new capital.
00:20Investors from the United Arab Emirates and Coatu are leading the round.
00:25OpenAI aims to secure signatures by the end of next week.
00:28The company is also negotiating a commercial agreement to obtain additional computing
00:32capacity from the UAE.
00:35OpenAI confidentially filed for an IPO in June, and CFO Sarah Fryer told employees in August
00:40that the company would go public in 2027.
00:43Anthropic is reportedly seeking a valuation of $1.5 trillion to $2 trillion in its IPO.
00:50For all things money, visit Benzinga.com.
