OpenAI raises $11B at a $1.25T valuation

OpenAI raised $11 billion at a $1.25 trillion valuation, falling short of its initial target of $30 billion or more at a $1.4 trillion valuation as AI stocks declined. The funding round, led by SoftBank and Abu Dhabi's MGX, represents only about 37% of the original goal, though additional tranches could bring the total to $20-29 billion. Despite the lower valuation, OpenAI's CFO highlighted strong business fundamentals, including 70% quarter-over-quarter growth and 1.2 billion weekly ChatGPT users.