OpenAI reportedly raises $11 billion at a $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, TechCrunch reports, citing Bloomberg. The $11 billion is part of a larger round that has not closed yet; it is expected to close in the coming weeks and could total about $20 billion, a source told Bloomberg. That is well short of the $30 billion OpenAI was said in late September to be looking for. The news landed hours after Bloomberg reported that potential buyers in the IPO of its chief rival, Anthropic, are eyeing a much lower valuation than targeted: possibly as low as $1.1 trillion, against the $2 trillion investors were said to expect about a month ago. OpenAI had previously intimated it would go public this year before delaying those plans. In a nervous week for AI, a trillion-dollar price tag still found buyers.