OpenAI funding reports put $11 billion round at $1.25 trillion valuation

OpenAI has raised $11 billion in a funding round that values the company at $1.25 trillion, according to reports by Bloomberg, as relayed by several outlets. The round may grow to about $20 billion in the coming weeks, The Daily Star and American Bazaar Online reported, citing Bloomberg. OpenAI has not publicly confirmed the reported funding in the accounts cited by 247WallSt, which said the company declined to comment.

The reports differ on the status of the initial $11 billion. The Daily Star described the funding as closed, while Martin Cid said the money had been wired but the round itself had not closed. American Bazaar Online likewise characterized the sum as part of a larger round still in progress. 247WallSt reported that OpenAI CFO Sarah Friar confirmed the $1.25 trillion pre-money valuation in a television interview, though that outlet also said OpenAI did not comment on the funding.

The reported valuation and fundraising total are below earlier targets. American Bazaar Online said two investors told Reuters that OpenAI had initially aimed for a valuation of $1.5 trillion, while Bloomberg had reported a target of $1.4 trillion and fundraising of as much as $30 billion, according to that outlet and Martin Cid. The Daily Star also reported the earlier $30 billion target and said the company was seeking further investment that could bring the current round to $20 billion.

SoftBank and MGX participated in the funding, according to The Daily Star and American Bazaar Online. 247WallSt also named those investors. The Daily Star reported that OpenAI raised $122 billion in March at an $852 billion valuation. Those figures place the latest reported valuation above the March level, although the current round’s final size remains uncertain, according to the outlets describing it as unfinished.