OpenAI cuts its valuation target to $1.25tn as it nears a $30bn round

OpenAI has reduced its valuation target for a new funding round to $1.25 trillion from $1.4 trillion, aiming to raise up to $30 billion led by UAE investors and Coatue. The round serves as a bridge ahead of a possible IPO in 2027, with OpenAI negotiating additional computing capacity from the UAE.