OpenAI Secures $11 Billion in Ongoing Funding Round at $1.25 Trillion Valuation
OpenAI has reportedly raised $11 billion so far in a new funding round that values the AI lab at $1.25 trillion, according to Bloomberg. The $11 billion represents a portion of a larger round that has not yet closed and is expected to close in the coming weeks, potentially totaling about $20 billion, a source told Bloomberg.
Funding Falls Short of Earlier Targets
In late September, Bloomberg reported that OpenAI was aiming to raise $30 billion in the upcoming round. The current figures fall well short of that target. TechCrunch has reached out to OpenAI for comment and will update this story if it responds.
Anthropic IPO Valuation Expectations Weaken
The news comes only hours after Bloomberg also reported that potential buyers of shares in the IPO of OpenAI's chief competitor, Anthropic, are eyeing a substantially lower valuation than Anthropic had targeted. Some potential buyers believe Anthropic's valuation could be as low as $1.1 trillion, compared with the $2 trillion that investors were said to be expecting roughly a month ago.
OpenAI Delays IPO to 2027
OpenAI previously indicated it would go public this year but subsequently delayed its plans. There are expectations that the company will IPO next year at some point.
Market Jitters Amid Political Shift
The market for AI hangs in a particularly precarious place. The Democratic landslide in the U.S. midterms — and overwhelmingly negative voter sentiment around data centers — has caused jitters throughout the market, with many anticipating potential regulatory challenges in the future.
via TechCrunch AI