OpenAI raises about $11B at a $1.25T pre-money valuation

OpenAI raises $11B at a $1.25T valuation

OpenAI has raised about $11 billion in new funding at a $1.25 trillion pre-money valuation, CFO Sarah Friar confirmed. SoftBank and MGX took part, and a later, unfinished tranche could bring the total to $20 billion. Media reports said the original target was at least $30 billion at a $1.4 trillion valuation; Friar denied the higher figure came from OpenAI.

Why it matters: The staged raise lands differently at Microsoft, which mainly books accounting gains on its stake, and NVIDIA, which depends more on where the money goes for compute.