OpenAI gets $11 billion funding at $1.25 trillion valuation, source says

OpenAI has closed on new funding of $11 billion, the initial part of a round that values the company at $1.25 trillion, a source familiar with ⁠the matter said on Friday.

The $11 billion raised so far represents only a portion of OpenAI's original target of up to $30 billion, while the company's valuation has come down from the $1.5 trillion level it had ⁠initially sought, two investors said.

SoftBank and MGX participated in the funding, the investors said.

Bloomberg News reported on the funding ⁠earlier on Friday.

Sentiment toward AI companies has cooled in the last month, ⁠with some investors valuing rival Anthropic's planned IPO at about $1.5 ⁠trillion, below earlier expectations of roughly $2 trillion.