OPENAI GETS $11B FUNDING AT $1.25T VALUATION

What happened: OpenAI closed on $11 billion in new funding, the initial part of a round that values the company at $1.25 trillion, a source said on Friday. Key numbers: $11 billion raised so far, part of an original target of up to $30 billion. Valuation of $1.25 trillion, down from the $1.5 trillion initially sought. Anthropic's planned IPO valued at about $1.5 trillion, below earlier expectations of roughly $2 trillion. Why it matters: The partial raise and lower valuation come as sentiment toward AI companies has cooled in the last month. SoftBank and MGX participated in the funding. Coverage: 5 outlets in 24h

OpenAI closed on $11 billion in new funding, the initial part of a round that values the company at $1.25 trillion, a source said on Friday.

The partial raise and lower valuation come as sentiment toward AI companies has cooled in the last month. SoftBank and MGX participated in the funding.