OpenAI lands an $11 billion funding round, but has to court dentists for more capital
By Matthias Bastian, The Decoder
Picture: The Decoder
OpenAI has received roughly $11 billion in new funding, the first tranche of a round valuing the company at $1.25 trillion. The money was wired on Friday, Bloomberg reports. The full round could grow to $20 billion, with the rest expected in the coming weeks. OpenAI originally sought $30 billion at a $1.4 trillion valuation but scaled back after an AI-sector selloff. Anthropic's valuation is also under pressure ahead of its planned IPO. Investors include Coatue Management, T. Rowe Price, SoftBank, Sequoia Capital, Founders Fund, Andreessen Horowitz, and a consortium from the United Arab Emirates. OpenAI is also working with investment banks to bring in wealthy individual investors.
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