OpenAI reportedly secures $11 billion in funding at $1.25 trillion valuation

OpenAI received about $11 billion in wired funds on Friday as the opening portion of a new funding round that values it at $1.25 trillion, Bloomberg reported, citing people not authorized to speak publicly. A source said the deal could reach $20 billion in the next few weeks, and The Information reported OpenAI plans to update investors next week. The company had originally targeted a $1.4 trillion valuation and sought $30 billion or more; in March it raised $122 billion at an $852 billion valuation. OpenAI has delayed an IPO originally expected next year, with President Greg Brockman indicating 2027 is more realistic.