OpenAI raises $11 billion at $1.25 trillion valuation

OpenAI has raised $11 billion in a new funding round valuing the company at $1.25 trillion, according to Bloomberg. The round has not yet closed and could total around $20 billion in the coming weeks, falling short of the $30 billion OpenAI was reportedly seeking in September. The news comes as rival Anthropic faces a sharply reduced IPO valuation, with potential buyers eyeing $1.1 trillion versus an earlier $2 trillion target. OpenAI, which delayed its own IPO plans, is expected to go public next year.