OpenAI nears up to $30 billion funding round at $1.25 trillion valuation led by UAE investors

OpenAI is closing in on a funding round that could value the artificial intelligence giant at more than $1 trillion ahead of a potential initial public offering . The San Francisco-based AI company is raising up to $30 billion at a $1.25 trillion valuation, according to people familiar with the deal, who asked not to be named because the details were confidential. That valuation does not include new capital raised. Investors from the United Arab Emirates are leading the round alongside Coatue, according to people familiar with the deal. OpenAI told investors Thursday that it aims to secure signatures by the end of next week. The final size of the round is still being determined, the people said.