OpenAI working on $30B raise at $1.25T valuation ahead of IPO

What's happening

OpenAI is working on a new $30 billion funding round at a $1.25 trillion valuation ahead of its IPO. According to TechCrunch, the company is positioning the round ahead of its public listing preparations.

Why it matters

If the round closes at the targeted valuation, OpenAI would become the most highly valued private company ever, with a valuation above $1 trillion. It also illustrates the scale of the capital race in the AI sector.

Context

The report does not specify the investors involved or when the round is expected to close. The company's IPO timeline also remains unclear in the source.