OpenAI is raising up to $30 billion at a $1.25 trillion valuation, according to CNBC. CNBC cited people familiar with the deal who asked not to be named.

The valuation does not include the new money, CNBC reported. Investors from the United Arab Emirates are leading the round with the investment firm Coatue, CNBC said.

The round is being pitched as an "opportunistic" bridge ahead of a possible stock market debut, CNBC reported. OpenAI informed investors Thursday that it wants signatures by the end of next week, the people said, according to CNBC. The final size of the round is still being worked out, CNBC said.

OpenAI is also talking about a deal to get more computing power from the UAE, CNBC reported, citing one person.

TechCrunch, citing CNBC's report, said the round would make OpenAI the most valuable private company ever. TechCrunch also noted that Bloomberg reported a month ago that OpenAI was seeking $30 billion at a $1.4 trillion valuation. OpenAI declined to comment, TechCrunch reported.

OpenAI filed confidential paperwork with the Securities and Exchange Commission in June to go public, CNBC reported. It has not said when it plans to list.

OpenAI's chief financial officer, Sarah Friar, said to staff in August that the company "will be a public company in 2027," CNBC reported. A month later, CEO Sam Altman said "right now would be an ill-advised moment to go public," according to CNBC.

Rival Anthropic is also getting ready for a large public offering, CNBC reported. Anthropic is reportedly seeking a valuation between $1.5 trillion and $2 trillion, CNBC said. In May, it raised $65 billion at a $965 billion valuation, CNBC reported.

What we know: CNBC reports OpenAI wants up to $30 billion at a $1.25 trillion valuation.
What we don't: The final size of the round and when OpenAI will go public. Only CNBC has reported this so far; NewsHabit hasn't seen independent confirmation.