OpenAI shifts valuation to $1.25 trillion as funding talks near final stage
OpenAI is trying to raise about $30 billion in a new round of funding. As talks with investors reach their final stages, the company is now aiming for a value of $1.25 trillion, according to people who know about the discussions.
The company behind ChatGPT lowered its proposed value by $150 billion, from $1.4 trillion. This information came from people involved in the talks who asked not to be named because the details are private. The discussions are still happening, so the numbers and other details could change, they said.
OpenAI last raised $122 billion in March, when the company was valued at $852 billion, including the new money it received.
Investment firm Coatue Management is discussing whether to help lead the new funding round, according to the people familiar with the talks. OpenAI has also been speaking with several investment funds from the United Arab Emirates and other companies, including BlackRock Inc., Bloomberg reported earlier.
OpenAI declined to comment on the matter. Coatue did not immediately reply when asked for a comment.
OpenAI expects investors to make their final promises to provide money by the end of next week, according to one person.
CNBC had already reported that OpenAI was aiming for a value of $1.25 trillion.
Technology company stocks have fallen this week. This happened after companies including Meta Platforms Inc. and Tesla Inc. reported mixed financial results for the quarter. Those results made investors worry that companies may be spending too much money on artificial intelligence. Many investors are also watching OpenAI's competitor, Anthropic PBC, which is expected to sell shares to the public for the first time next month. Investors want to see how people respond to that share sale.
OpenAI has delayed its own plans to sell shares to the public for the first time until next year. The company said it made this decision because it is focusing on efforts to make artificial intelligence safer.