Bloomberg reported on 6 November that OpenAI had closed $11 billion in new funding at a $1.25 trillion valuation, after initially seeking $30 billion or more at $1.4 trillion.
The money had been wired to OpenAI by 6 November, according to people familiar with the deal cited by Bloomberg. One person said the round could reach as much as $20 billion in total, with the remainder expected to close in the coming weeks.
OpenAI had been seeking funding for more than a month after delaying plans for an initial public offering. It scaled back its target amid a sell-off in publicly traded AI companies. AI Affairs previously covered the cut in its funding target to $20 billion.
Investors from the United Arab Emirates are leading the round alongside Coatue, CNBC reported on 31 October. OpenAI raised $122 billion in March at an $852 billion valuation, Bloomberg reported.
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