OpenAI is in the final stages of a funding deal at a $1.25 trillion valuation, below the $1.4 trillion pre-money figure pitched to investors earlier in October, Breaking The News reported.
Morgan Stanley and tech fund Dragoneer floated the $1.4 trillion figure to the bank’s private wealth clients. The proposed $1.25 trillion valuation would be an almost 50% increase from OpenAI’s current $852 billion valuation.
OpenAI is seeking to raise $30 billion before going public. AI Affairs previously reported that the company had accelerated its fundraising push ahead of Anthropic’s expected IPO.
A person with knowledge of the Morgan Stanley-led process described the response to the latest pitch as “a bit of a thud”.
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