OpenAI reportedly closes $11 billion at a $1.25 trillion valuation, below the $1.4 trillion it first sought
Bloomberg reports that the ChatGPT maker has received the first part of a new round, with SoftBank and MGX among the investors, after the AI-stock sell-off forced it to scale back.
- Raised so far: about $11 billion
- Valuation: $1.25 trillion (pre vs post-money unclear)
- Original target: $30B+ at about $1.4T
The deal
Bloomberg reported on 6 November that OpenAI has taken in about $11 billion, the first part of a new funding round that values it at $1.25 trillion. Reuters, citing the Bloomberg report, said SoftBank and MGX took part. OpenAI declined to comment, so the figures come from people familiar with the deal rather than a company disclosure.
Smaller than planned
OpenAI had reportedly aimed for $30 billion or more at about $1.4 trillion before cutting its target as AI shares fell on public markets. The round may still grow to about $20 billion over the coming weeks. For context, its previous round in March raised $122 billion at an $852 billion valuation.
A detail to watch
Outlets disagree on whether $1.25 trillion is a pre-money or post-money figure. 24/7 Wall St. says it is pre-money, while another report treats it as post-money, so the exact stake bought by investors is not settled.
Why it matters
OpenAI is the most closely watched private company in tech, and its valuation is a gauge of how much investors still believe in the AI build-out after this week's market sell-off. A smaller-than-planned round that still closes at a trillion-plus suggests demand is there, but more cautious.
