OpenAI is expected to brief investors next week after raising $11B. Private AI capital is still being raised at scale, and the tape will watch the terms and spending plans for read-through on compute

What happened: OpenAI closed the first part of its latest fundraising round, raising $11 billion, and is seeking $20 billion in total for the round. Key numbers: $11 billion raised; $1.25 trillion valuation before the investment; $20 billion total target. Why it matters: The company plans to finalize the remainder of the round after securing the initial $11 billion.

OpenAI closed the first part of its latest fundraising round, raising $11 billion, and is seeking $20 billion in total for the round.

The company plans to finalize the remainder of the round after securing the initial $11 billion.