OpenAI has secured $11 billion in fresh funding as the first tranche of a financing round that values the artificial intelligence company at $1.25 trillion.
According to the report, investors transferred the funds to OpenAI. The company expects to close the remaining portion of the round in the coming weeks, with the total fundraising potentially reaching $20 billion.
Initially, OpenAI aimed to raise more than $30 billion at a valuation of approximately $1.4 trillion. However, the company scaled back its fundraising plans amid a broader selloff in AI-related stocks and growing investor concerns over the substantial spending required to build AI infrastructure.
Meanwhile, investor sentiment towards artificial intelligence companies has weakened over the past month. For instance, some investors have reportedly valued rival Anthropic’s planned initial public offering (IPO) at around $1.5 trillion, below earlier expectations of approximately $2 trillion.
