San FranciscoOpenAI seeks up to $30 billion at a $1.25 trillion valuation.

An Emirati investor co-leads, and OpenAI is negotiating more computing capacity in the UAE.

The target is $150 billion below the roughly $1.4 trillion OpenAI sought in September.

OpenAI, which filed confidentially for its listing in June, has not commented, and terms remain under negotiation.

How each outlet framed it
Zhidx
traces the trimmed valuation against the September target and links the funding round to UAE compute deals and the Stargate UAE project

Sources: Zhidx