OpenAI valued at $1.25 trillion in new $11 billion funding round

OpenAI is now valued at $1.25 trillion in a funding round that has raised another $11 billion, according to Bloomberg. That follows a $122 billion raise in March at an $852 billion valuation. Bloomberg says OpenAI is still pursuing further investment that could bring the total to $20 billion.

The round was first planned at a larger scale. Bloomberg reported that OpenAI had initially hoped to raise as much as $30 billion at a valuation of $1.4 trillion, but tech stocks fell and the midterm results showed declining public support for AI companies and data center projects.

Anthropic filed its S-1 to go public last week. Earlier this year, OpenAI CEO Sam Altman said the company was holding off on its own IPO until it could make more confident claims about its models' safety, though he gave no specific timeline.

Developers who rely on OpenAI's models should note that the company's financing is still in flux, with the round's size and valuation below its earlier target and more investment still being pursued.

With Anthropic's S-1 filed and OpenAI signaling it will go public eventually, two major model providers may face public-market scrutiny, which could affect how they price and document their services.