OpenAI closes first $11 billion funding tranche at $1.25 trillion valuation
Bloomberg, citing people familiar with the matter, reported that OpenAI has closed the first portion of a new funding round: about $11 billion that values the company at $1.25 trillion, with the funds transferred on Friday. The round may grow to as much as $20 billion in the coming weeks. OpenAI had earlier sought $30 billion or more at about $1.4 trillion before cutting targets amid a public-market selloff in AI stocks, and had postponed IPO plans. A March round raised about $122 billion at an $852 billion valuation. OpenAI has not issued its own announcement of these terms.
Why it matters
A core AI lab booked a large first tranche at a cut valuation, a concrete signal of cooler private-market appetite.
Sources1
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