OpenAI raises $11 billion at $1.25 trillion valuation
The first tranche closed with Coatue Management and T. Rowe Price taking part, and the full round could reach $20 billion.
OpenAI has closed the first tranche of its funding round, bringing in $11 billion at a valuation of $1.25 trillion, according to aitimes.com. The round could grow to as much as $20 billion, with the remainder expected within the coming weeks.
Coatue Management and T. Rowe Price took part in the first tranche. SoftBank, Sequoia Capital, Founders Fund, Andreessen Horowitz and investors from the UAE are reported to be part of the full round.
OpenAI is also working with investment banks to raise additional funds from high-net-worth individuals and retail investors.
Smaller targets than originally planned
OpenAI had originally sought more than $30 billion at a valuation of $1.4 trillion, but lowered both targets amid a decline in AI-related stocks and concerns over infrastructure spending such as data centers. The company has also postponed its IPO plans.
In March, OpenAI raised $122 billion at a valuation of $852 billion.
Separately, investors are reportedly valuing Anthropic at $1.2 trillion to $1.3 trillion ahead of its IPO, down from $1.5 trillion, with some estimates as low as $1.1 trillion.
Quick answers
How much did OpenAI raise in its latest funding round?
OpenAI received $11 billion in the first tranche at a valuation of $1.25 trillion. The full round could reach as much as $20 billion.
Who invested in OpenAI's new round?
Coatue Management and T. Rowe Price participated in the first tranche. SoftBank, Sequoia Capital, Founders Fund, Andreessen Horowitz and UAE investors are reported to be part of the full round.
What valuation is Anthropic reportedly getting ahead of its IPO?
Investors are reportedly valuing Anthropic at $1.2 trillion to $1.3 trillion, down from $1.5 trillion, with some as low as $1.1 trillion.