OpenAI has secured $11 billion in fresh funding at a $1.25 trillion valuation, closing the first part of a larger round at a lower size than it first planned. Money for the opening tranche reached the ChatGPT maker on Friday, according to people familiar with the matter.
Bloomberg News first reported the funding on Friday, and Reuters confirmed the figures through a source familiar with the matter. OpenAI declined to comment on the financing.
Funding closes below original target
The $11 billion covers only the opening slice of the round. Bloomberg reported the full round could reach $20 billion, with the remaining money expected to arrive in the coming weeks. OpenAI spent more than a month negotiating the financing after pushing back plans for a stock market listing. It originally aimed to raise $30 billion or more, before trimming its ambitions during a sharp sell-off in AI-related shares.
Investors backing round
Coatue Management and T Rowe Price contributed to the first close, people familiar with the matter said. SoftBank Group, Sequoia Capital, Founders Fund and Andreessen Horowitz are also involved in the wider round, alongside Abu Dhabi investment firm MGX and a syndicate of backers from the United Arab Emirates, Bloomberg reported. Reuters separately named SoftBank and MGX as participants. OpenAI is also working with investment banks to bring in high-net-worth individuals and retail investors, according to Bloomberg.
Valuation jumps from March round
| Detail | Figure |
|---|---|
| Funding closed so far | $11 billion |
| Valuation | $1.25 trillion |
| Full round size | Up to $20 billion |
| Original target | Up to $30 billion |
| March 2026 round | $122 billion at $852 billion valuation |
Even at the reduced size, the round lifts OpenAI’s valuation sharply from March, when it raised $122 billion at an $852 billion valuation.
Cooling AI sentiment
Investor appetite for AI companies has cooled over the past month. Concerns have grown about heavy spending on computing infrastructure and possible new obstacles to data-centre construction after the US midterm elections. Rival Anthropic’s planned stock market listing is also being priced below earlier expectations, Bloomberg reported.
Key questions
$11 billion so far, the first part of a round that could reach $20 billion in total.
$1.25 trillion, up from an $852 billion valuation in March 2026.
Coatue Management and T Rowe Price joined the first close, with SoftBank, MGX, Sequoia Capital, Founders Fund and Andreessen Horowitz also involved.
The remaining money is expected in the coming weeks, according to Bloomberg.
