OpenAI reportedly raises $11 billion at $1.25 trillion valuation

OpenAI has reportedly received $11 billion in an initial tranche of a funding round valuing the company at $1.25 trillion, though the round remains open and the figures have not been confirmed by the company.

The reported financing was attributed to people familiar with the matter. The round could total about $20 billion, with the remaining funding expected in the coming weeks, according to the same reporting. OpenAI had not commented in accounts that said the company was asked for a response.

The reported amount and valuation are below targets Bloomberg had reported in September: at least $30 billion at a $1.4 trillion valuation. The current figures would be about $10 billion and $150 billion lower, respectively. Because the round is not reported as closed, its final size and terms may change.

The funding follows a much larger financing reported for March, when OpenAI raised $122 billion at an $852 billion valuation. The reported $1.25 trillion valuation would be higher than March’s, despite the smaller initial tranche in the current round.

The reports also say OpenAI has delayed plans to go public, with a listing now expected sometime in 2027 rather than 2026. That timing is an...