OpenAI has raised another $11 billion in a funding round that values it at $1.25 trillion, according to Bloomberg. That would put it among the world’s most valuable companies.
The new valuation follows a March round in which OpenAI raised $122 billion from investors at a valuation of $852 billion. Bloomberg says the company is still seeking additional investment that could bring the new round to $20 billion, echoing reports from the Financial Times and The Wall Street Journal last week.
OpenAI had initially hoped to raise as much as $30 billion at a higher valuation of $1.4 trillion. That target came before tech stocks fell and midterm election results showed a turn in public opinion against AI companies and data center projects.
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Meanwhile, rival Anthropic filed its S-1 to go public last week. Earlier this year, OpenAI CEO Sam Altman said his company was holding off on its own IPO until it could make more confident claims about the safety of its models. He gave no specific timeline, but said, “I think it’s also kind of bad for the world if OpenAI waits too long to go public.”
OpenAI is continuing to pursue the additional investment that could increase its current round to $20 billion, according to Bloomberg.
