OpenAI reportedly secures $11 billion so far at $1.25 trillion valuation
US artificial intelligence company OpenAI has reportedly raised $11 billion in a new funding round that values it at $1.25 trillion. The round is not yet closed and could total about $20 billion.
OpenAI, the AI company behind ChatGPT's developer ecosystem, has reportedly raised $11 billion so far in a new funding round that values the firm at $1.25 trillion. Bloomberg reported the news on Friday, November 6, citing sources familiar with the matter. OpenAI has not yet commented; TechCrunch has asked the company for a response.
The round is still open
The $11 billion forms only part of a larger round that has not yet closed. A source told Bloomberg it is expected to wrap up within weeks and could total roughly $20 billion. In late September, Bloomberg had reported that OpenAI was aiming to raise $30 billion, so the current figures fall well short of that goal.
Rival's IPO and market mood
The report came only hours after another Bloomberg story about OpenAI's main competitor, Anthropic. Potential buyers of shares in Anthropic's planned initial public offering (IPO, the first sale of a company's shares on a stock exchange) are said to be eyeing a valuation as low as $1.1 trillion. About a month ago, investors reportedly expected $2 trillion.
OpenAI previously hinted it would go public this year but later delayed those plans. An IPO is now expected at some point next year.
TechCrunch writes that the AI market is in a particularly precarious position. The Democratic landslide in the US midterm elections, together with strongly negative voter sentiment about data centers, has unsettled the market, with many expecting possible regulatory challenges ahead.
