OpenAI Raises 11 Billion Dollars at 1.25 Trillion Dollar Valuation in New Funding Round
OpenAI has raised 11 billion dollars in a new funding round at a valuation of 1.25 trillion dollars, as part of an effort to secure up to 30 billion dollars following the postponement of its IPO plans.
OpenAI has raised 11 billion dollars in a new funding round at a valuation of 1.25 trillion dollars, according to a report by Reuters citing a person familiar with the matter. This represents the first tranche of a round that, according to the company's target, is expected to raise 30 billion dollars.
However, according to two other sources, the company lowered its target valuation from 1.5 trillion dollars. The next part of the round is set to be completed in the coming weeks, according to additional insiders, who noted that the company has been in fundraising talks for over a month after postponing its IPO plans.
In March, OpenAI raised 122 billion dollars at a valuation of 852 billion dollars. Investors participating in the current round include SoftBank and MGX from the United Arab Emirates.
The move comes amid cooling enthusiasm for artificial intelligence in light of rising risks. Technology stocks posted sharp declines this week following the Democrats' victory in the midterm elections and expectations that they will push to increase regulation on the technology and restrict data center construction. Meanwhile, some investors estimate that Anthropic's anticipated IPO will value the company at 1.5 trillion dollars rather than the initially projected 2 trillion dollars.
