OpenAI Valued at $1.25 Trillion in New Funding Round
US artificial intelligence company OpenAI has raised another $11 billion in a new funding round, putting its valuation at $1.25 trillion, Bloomberg reports. Rival Anthropic filed last week to go public.
OpenAI, the developer of ChatGPT, is now valued at $1.25 trillion after a new funding round that raised a further $11 billion, according to Bloomberg. At that valuation, the artificial intelligence company would rank among the world's most valuable firms. The figure shows investors are still committing huge sums to the AI sector, even as public opinion of it appears to be souring.
What came before
In March, OpenAI raised $122 billion from investors at a valuation of $852 billion.
A smaller raise than planned
Bloomberg says OpenAI is still seeking additional investment that could lift the total to $20 billion. The Financial Times and the Wall Street Journal published similar reports last week. The company had initially hoped to raise as much as $30 billion at a higher valuation of $1.4 trillion. That was before tech stocks fell and before the US midterm election results showed how far public opinion has turned against AI companies and data center projects.
Rival nears the stock market
OpenAI's competitor Anthropic filed an S-1, the registration document for an initial public offering (IPO) of shares, last week. Earlier this year, OpenAI CEO Sam Altman said the company was holding off on its own IPO until it could make more confident claims about the safety of its models. He gave no specific timeline, but said at the time: "I think it's also kind of bad for the world if OpenAI waits too long to go public."
