BREAKING
OpenAI raises $11 billion at $1.25 trillion valuation in ongoing funding round
The unfinished round targets up to $20 billion, missing an earlier $30 billion goal as rival Anthropic also faces valuation cuts ahead of its IPO.
OpenAI has raised $11 billion in an ongoing funding round that values the artificial intelligence company at $1.25 trillion, according to a Bloomberg report citing people familiar with the matter.
The $11 billion injection is part of a larger funding process that has not yet closed. A source told Bloomberg that the round is expected to wrap up in the coming weeks and could eventually total about $20 billion.
However, the current numbers mark a clear reduction from OpenAI's earlier expectations. Reports by Bloomberg, the Financial Times, and The Wall Street Journal over recent weeks indicated that OpenAI originally aimed to raise as much as $30 billion at a valuation reaching $1.4 trillion. That target was set before a recent drop in technology stock prices and political shifts in the United States altered market sentiment.
Key funding and valuation metrics
| Entity and transaction | Target capital raise | Capital raised to date | Target valuation | Resulting valuation |
|---|---|---|---|---|
| OpenAI (Current ongoing round) | $30 billion | $11 billion | $1.4 trillion | $1.25 trillion |
| OpenAI (March 2026 round) | Not disclosed | $122 billion | Not disclosed | $852 billion |
| Anthropic (Upcoming IPO) | Not disclosed | Not disclosed | $2 trillion | $1.1 trillion |
Why it matters for founders and investors
For technology founders, venture capital funds, and late-stage investors, OpenAI's latest fundraising provides a direct snapshot of a shifting private capital market.
At a $1.25 trillion valuation, OpenAI solidifies its standing as one of the world's most valuable corporate enterprises. The new figure represents a major gain over its March 2026 fundraising round, when the company raised $122 billion at an $852 billion valuation, according to reporting by Bloomberg and The Verge.
Yet the gap between OpenAI's original $30 billion target and the $11 billion secured so far demonstrates that even market leaders in generative artificial intelligence face stricter investor discipline. Capital allocators are no longer writing unchecked cheques for high-burn technology platforms, forcing a reset in private valuation expectations across the frontier AI market.
Data centre pushback and political headwinds
The revision in OpenAI's funding targets coincides with growing political and regulatory uncertainty in the United States following the Democratic landslide in the US midterm elections.
Overwhelmingly negative voter sentiment regarding data centre projects and their intense power demands has caused jitters across the industry. Investors and corporate boards now anticipate stricter regulatory hurdles, potential environmental scrutiny, and slower approvals for large-scale AI compute infrastructure.
These political headwinds, combined with a recent market drop in publicly traded technology stocks, have tightened liquidity for private market mega-rounds, forcing firms to adjust their valuation targets downward.
Anthropic IPO and valuation haircuts across the sector
OpenAI is not the only artificial intelligence pioneer experiencing a valuation adjustment. Its primary competitor, Anthropic, filed its Form S-1 with regulators last week to prepare for an initial public offering.
However, prospective investors eyeing shares in Anthropic's public offering are preparing for a significantly lower valuation than previously discussed. According to Bloomberg, potential share buyers believe Anthropic's valuation could land as low as $1.1 trillion. That is a sharp drop from the $2 trillion valuation that investors were reportedly expecting roughly a month ago.
The concurrent recalibrations at OpenAI and Anthropic demonstrate that public and private markets are demanding lower entry multiples across the entire sector.
What happens next and OpenAI's public listing timeline
OpenAI had previously intimated that it planned to go public this year, but subsequently delayed those plans. Expectations across the market now point to an initial public offering at some point next year.
OpenAI Chief Executive Sam Altman previously stated that the company is holding off on its public listing until it can make more confident claims regarding the safety of its artificial intelligence models. While Altman declined to specify an exact calendar date for the IPO, he acknowledged the public duty tied to a public listing.
"I think it's also kind of bad for the world if OpenAI waits too long to go public," Altman said earlier this year.
In the short term, OpenAI continues to negotiate additional investments to bring the current round closer to its revised $20 billion target before closing in the coming weeks. TechCrunch reported that it reached out to OpenAI for comment, but the company has not yet issued an official statement.