From TechCrunch · Lucas Ropek · · 1m 10s
OpenAI raises $11 billion at $1.25 trillion valuation
OpenAI has raised $11 billion in a new funding round valuing the company at $1.25 trillion, well below its earlier $30 billion target.
In brief
OpenAI has raised $11 billion in a new funding round valuing the company at $1.25 trillion, well below its earlier $30 billion target. OpenAI raised eleven billion dollars at a one point two five trillion dollar valuation, falling short of its thirty billion dollar fundraising goal from September. Originally reported…
OpenAI's new funding round
OpenAI has raised eleven billion dollars so far in a new funding round that values the AI lab at one point two five trillion dollars, according to Bloomberg.
Round expected to close soon
The eleven billion dollars is part of a larger funding round that has not closed yet. The round is expected to close in the coming weeks and could total about twenty billion dollars.
Falls short of September target
In late September, Bloomberg reported that OpenAI was looking to raise thirty billion dollars in the upcoming round. The current figures fall well short of that target.
Market uncertainty weighs on valuations
The Democratic landslide in the U.S. midterms and overwhelmingly negative voter sentiment around data centers has caused jitters throughout the market, with many anticipating potential regulatory challenges.
What it means
OpenAI raised eleven billion dollars at a one point two five trillion dollar valuation, falling short of its thirty billion dollar fundraising goal from September.
