编辑精选 · The Decoder · 2026/10/23 17:49
OpenAI 估值下调至 1.25 万亿美元，寻求高达 300 亿美元融资
OpenAI lowers valuation target, raises up to $30 billion
OpenAI 正在筹集高达 300 亿美元的新融资，估值目标已从 1.4 万亿美元下调至 1.25 万亿美元。该轮融资由阿联酋投资者和 Coatue 领投，定位为潜在 IPO 前的过桥融资。
精选理由：估值下调与融资结构反映当前市场在AI大额融资中的资金流转压力，以及IPO前关键节点的商业安排。
Oct 23, 2026
OpenAI is closing in on a new funding round of up to $30 billion but has lowered its valuation target to get there. The company originally pitched investors on a $1.4 trillion valuation, according to internal documents obtained by the Financial Times. That number has since dropped to $1.25 trillion, CNBC also reports. The FT says demand was weaker than in previous rounds, with some backers experiencing "indigestion" after heavy investments in earlier fundraises.
UAE investors and investment firm Coatue are leading the $30 billion round. The funding is being positioned as a bridge ahead of a potential IPO. OpenAI is also negotiating a commercial deal to secure additional compute capacity through the UAE, according to CNBC.
OpenAI confidentially filed an IPO prospectus with the SEC in June. CFO Sarah Friar told employees in August that OpenAI would be a publicly traded company by 2027. CEO Sam Altman said in September that the timing was unfavorable for going public. He had already communicated that internally back in June. Competitor Anthropic is also preparing an IPO and is targeting a valuation between $1.5 and $2 trillion.
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