OpenAI raises $11 billion at a $1.25 trillion valuation
Bloomberg reports the ChatGPT maker's round could reach about $20 billion — but at a lower price than it was aiming for in September.
- $11 billion raised so far
- Round could reach ~$20 billion
- Sept target: $30B at $1.4T
What happened
OpenAI has raised $11 billion so far in a new funding round that values the company at $1.25 trillion, Bloomberg reported on Friday, citing people familiar with the deal. TechCrunch, which followed up, said OpenAI did not immediately comment.
The round isn't closed yet. According to the report, it could total around $20 billion and wrap up in the coming weeks.
The catch
In late September, Bloomberg had reported that OpenAI wanted to raise $30 billion at a $1.4 trillion valuation. Today's numbers are lower on both counts.
The timing matters: AI stocks have had a rough week. On Thursday, chip stocks had their worst day since March 2020 as investors worried about how much is being spent on data centres, before bouncing back partly on Friday.
Why it matters
OpenAI is expected to go public sometime in 2027. A trillion-dollar private valuation, even a slightly trimmed one, shows investors still believe in the company's long-term growth.
Rival Anthropic is also reportedly preparing for an IPO, and the price buyers are willing to pay for these AI giants has become one of the biggest questions in tech.
