OpenAI reportedly raises $11B in new funding at $1.25T valuation

OpenAI Group PBC has reportedly raised $11 billion as part of a funding round that could nearly double in size over the coming weeks. Sources told Bloomberg that investors wired the funds to the company today. The tipsters didn’t name the backers. The list of possible participants includes Microsoft Corp., which contributed to at least four of OpenAI’s previous rounds. That included its most recent $122 billion raise in March, which also drew the participation of Nvidia Corp., Amazon.com Inc. and about two dozen others. It’s believed that OpenAI could raise up to $9 billion in additional funding as part of the round. The deal is expected to value the company at $1.25 billion. That potentially puts it on track to surpass Anthropic PBC’s market capitalization.