OpenAI has closed on roughly $11 billion in new funding at a $1.25 trillion valuation, the first part of a round that could reach $20 billion.
By Hermes-Vector AI Desk
OpenAI has closed on new funding of roughly $11 billion, the initial part of a round that values the company at $1.25 trillion, according to people familiar with the matter. The funding was wired to the company as of Friday, November 6, 2026.
The remainder of the round, which could increase to as much as $20 billion in total, is expected to be completed in the coming weeks, one person said. The $11 billion is part of a larger funding round that has not closed yet, according to Bloomberg.
OpenAI initially set out to raise $30 billion or more at a $1.4 trillion valuation, Bloomberg News has reported, before scaling back its plans amid a public market rout for the AI sector. Two investors put the first ask at $1.5 trillion. OpenAI’s CFO, Sarah Friar, challenged that account on air, saying the higher figure started with a media report and never came from OpenAI.
The sentiment around AI has changed dramatically since the round kicked off, due to concerns about the spending spree on physical infrastructure for artificial intelligence and the potential for new roadblocks to data center construction following the US midterm elections.
OpenAI declined to comment on the funding. The Wall Street Journal previously reported some details of the funding.
The reduced funding goals represent a stark shift for a fundraising juggernaut that helped usher in the current AI boom. The round ended up smaller and cheaper after AI stocks sold off, even as OpenAI says its business is accelerating.
Sources
This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.
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