OpenAI Closes First $11 Billion Tranche of New Funding Round at $1.25 Trillion Valuation

Nov. 7 — According to Bloomberg, people familiar with the matter said OpenAI has completed the first $11 billion closing of a new funding round at a company valuation of $1.25 trillion, with the funds received on Friday. The round may later expand to about $20 billion. The company had originally planned to raise more than $30 billion at a valuation of about $1.4 trillion, but later lowered its target as AI-related US stocks came under pressure. OpenAI's previous round was about $122 billion at a valuation of about $852 billion.