OpenAI Raises $11bn at $1.25tn Valuation
OpenAI has reportedly raised $11 billion so far in a new funding round that values the ChatGPT maker at $1.25 trillion, according to Bloomberg, as reported by TechCrunch on 6 November 2026.
The $11 billion is only the first part of a larger round that has not yet closed. Bloomberg reported, citing sources familiar with the matter, that the round is expected to close in the coming weeks and could total about $20 billion.
The figures fall well short of what OpenAI first set out to raise. In late September, Bloomberg reported that the company was looking to raise $30 billion in the round. Reuters, quoting two investors, reported that the valuation OpenAI initially sought was $1.5 trillion, higher than the $1.4 trillion reported in September.
SoftBank and MGX took part in the funding, the two investors told Reuters. MGX is the Abu Dhabi artificial intelligence investment firm, and SoftBank has been among the most active backers of large AI deals. OpenAI has not confirmed the figures on its own channels, and it did not respond to a request for comment from TechCrunch. The numbers should therefore be treated as reported, not as confirmed by the company.
The raise lands in a colder market than the one OpenAI planned for. TechCrunch noted that the Democratic landslide in the US midterm elections, and negative voter sentiment around data centres, have made investors jittery about possible regulation. The Nasdaq closed lower for a fourth straight week on Friday, even as it rebounded on the day.
OpenAI last announced a funding round on 31 March, when it said it had closed $122 billion in committed capital at a post-money valuation of $852 billion. The new reported valuation of $1.25 trillion would still mark a sharp rise from that level, but the smaller first close suggests investors are pricing AI companies more cautiously than they were a year ago.
The same caution is visible at OpenAI's main rival. Bloomberg also reported that potential buyers of shares in Anthropic's planned initial public offering are eyeing a substantially lower valuation than Anthropic had targeted, with some putting it as low as $1.1 trillion, compared with the $2 trillion investors were said to be expecting roughly a month ago. Reuters reported a figure of about $1.5 trillion for Anthropic, also below earlier expectations of roughly $2 trillion.
OpenAI had previously suggested it would go public this year but subsequently delayed those plans. Expectations now point to an offering next year, according to TechCrunch. The next marker for the funding round is the close of the remaining money, which will decide whether OpenAI lands nearer $20 billion or its original $30 billion target.
For the wider AI market, the $1.25 trillion valuation is now the anchor. It sets the reference point for rivals raising money and for the data centre projects that depend on continued AI demand. If the rest of the round closes at the same valuation, OpenAI will have secured a large war chest at a lower price than it hoped for; if it does not, the shortfall will be read as a further sign that the AI funding boom is cooling.
