OpenAI Secures $11 Billion in New Funding at a $1.25 Trillion Valuation

OpenAI has closed on new funding of $11 billion, the initial part of a round that values the company at $1.25 trillion, Bloomberg News reported on Friday, citing people familiar with the matter.

The funding comes as OpenAI's chief financial officer, Sarah Friar, told CNBC on Friday that the company was raising fresh capital, pushing back against suggestions the ChatGPT maker had scaled back its fundraising ambitions amid the sharp AI stocks selloff.

The company is seeking fresh capital after its business grew 70% quarter over quarter in the third quarter, with enterprise demand doubling over the same period, Friar said.

"It (the growth) is saying people are actually using AI and getting value from it," Friar said.

OpenAI now generates the majority of its revenue from enterprise sales, its president Greg Brockman said earlier this week, and believes it will be ready to go public in 2027.

Sources

• Reuters — OpenAI secures $11 billion funding at $1.25 trillion valuation, Bloomberg News reports
• Innopark IT — OpenAI Will Press Ahead With US Data Center Expansion Despite Midterm Sweep
• Innopark IT — OpenAI Could Be Ready for a 2027 IPO as Enterprise Sales Pass Consumers