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 (November 6).
\n\nThe $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.
\n\nSoftBank and MGX participated in the funding, the investors said.
\n\nBloomberg News reported on the funding earlier on Friday (November 6).
\n\nSentiment 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.
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Original source: https://www.cnbctv18.com/technology/
