OpenAI Closes First $11 Billion Funding Tranche at $1.25 Trillion Valuation

OpenAI has closed the first $11 billion tranche of its latest funding round at a $1.25 trillion valuation, after scaling back an earlier plan amid pressure on AI-related U.S. stocks.

The money arrived Friday, Nov. 6. The current round may grow to about $20 billion, below the company's earlier plan to raise more than $30 billion. OpenAI had attached a valuation near $1.4 trillion to that earlier target.

Coatue Management and T. Rowe Price participated in the first financing. Other investors include SoftBank Group, Sequoia Capital, Founders Fund and Andreessen Horowitz.

OpenAI's prior financing raised about $122 billion and valued the company at roughly $852 billion. The latest $1.25 trillion valuation is about $400 billion above the prior round's mark, while roughly $20 billion remains a possible total for the ongoing round. The $1.25 trillion valuation is separate from the amount raised in the initial close.