The key facts

  • OpenAI raised $11 billion at a $1.25 trillion valuation; the round is not closed and could grow to $20 billion
  • This is less than the $30 billion the company was reportedly seeking in late September, according to Bloomberg
  • The news coincided with a report that IPO valuation expectations for Anthropic have been lowered

The round is ongoing

OpenAI has raised about $11 billion in a new funding round that values the company at $1.25 trillion. Bloomberg reported this citing sources, and TechCrunch, referring to that report , described the details of the deal. The round is not yet closed: it is expected to wrap up in the coming weeks and, according to Bloomberg's source, could ultimately reach about $20 billion.

Below the original target

The current amount falls well short of the original plans. In late September, Bloomberg reported that OpenAI expected to raise $30 billion in the new round at a $1.4 trillion valuation. The valuation is now lower — $1.25 trillion — and the $11 billion raised (and even the potential $20 billion) falls short of the stated target. The sources do not explain why the amount turned out to be smaller.

Context: pressure on AI company valuations

The news about OpenAI's funding came hours after another Bloomberg report: potential buyers of shares in the IPO of OpenAI's main competitor, Anthropic , are counting on a valuation significantly below the target. According to the outlet, some buyers consider a valuation of just $1.1 trillion for Anthropic, versus the $2 trillion that, according to CNBC, investors were counting on about a month ago.

IPO plans and the state of the market

OpenAI previously hinted that it would go public this year, but then postponed those plans; now, as Reuters reported, citing Greg Brockman, the IPO is expected to take place in 2027, and most of the company's sales already come from corporate customers. The backdrop for listings remains tense: according to CNN, the results of the US midterm elections and voters' largely negative attitude toward data centers caused nervousness across the entire market, and many expect possible regulatory difficulties.