OpenAI secures $11 billion at a $1.25 trillion valuation, reports say

OpenAI has secured $11 billion in new funding at a valuation of $1.25 trillion, according to Reuters, as cited by PYMNTS, and Bloomberg, as cited by The Daily Star. The investment is part of a larger fundraising effort, and reports differ in how they describe its status: PYMNTS said OpenAI had closed on the $11 billion, while The Daily Star and Billionaires Africa described it as the first part of a round that is still being pursued. Bloomberg’s account, relayed by Martin Cid, said the broader round had not closed.

The total could reach about $20 billion in the coming weeks, according to Bloomberg as reported by The Daily Star, Billionaires Africa and Martin Cid. That would be below the earlier fundraising goal reported by several outlets. PYMNTS said the company had initially aimed for $30 billion, while The Daily Star and Billionaires Africa also cited that target. Reports differed on the valuation OpenAI had sought: PYMNTS and The Daily Star cited investors who put it at about $1.5 trillion, while Billionaires Africa reported an earlier target of about $1.4 trillion.

The new valuation is higher than the $852 billion figure attached to OpenAI’s $122 billion funding in March, according to The Daily Star, Billionaires Africa and Martin Cid. Billionaires Africa calculated the increase at 46.7%, while Martin Cid described it as roughly 47%.

SoftBank and MGX participated in the funding, The Daily Star reported. Billionaires Africa also named Coatue Management and T. Rowe Price as leads in the first close. OpenAI declined to comment on the funding, according to 247WallSt, which also reported that CFO Sarah Friar confirmed the $1.25 trillion valuation in a television interview.

The reports linked the smaller initial amount and lower valuation to a cooler investment climate for AI companies. Reuters, as cited by PYMNTS, reported that investors were valuing rival Anthropic’s planned IPO at about $1.5 trillion, below earlier expectations of roughly $2 trillion. The Daily Star likewise reported that investor appetite for AI companies had weakened over the previous month.