OpenAI secures $11 billion as valuation falls below target

OpenAI has secured $11 billion in fresh funding at a $1.25 trillion valuation, according to a report citing a source familiar with the matter. The figure is below the $1.5 trillion valuation OpenAI initially sought and represents only the first portion of a larger fundraising round expected to total more. OpenAI had targeted raising as much as $30 billion, but the secured $11 billion so far accounts for part of that range, Bloomberg reported on November 6. SoftBank and MGX participated, investors said. The fundraising comes as sentiment around AI firms cools, with rival Anthropic’s planned IPO valued by some investors at about $1.5 trillion versus earlier expectations near $2 trillion.