OpenAI Closes $15 Billion Funding Round at $1.25 Trillion Valuation

OpenAI has raised $15 billion in its latest funding round at a $1.25 trillion valuation, according to sources cited by CNBC. The deal marks a significant reduction from the company's original ambitions: OpenAI had initially sought at least $30 billion at a $1.4 trillion valuation when it entered discussions in late September, but investor pushback over the terms and souring market conditions forced the company to cut both its valuation target and its fundraising goal by roughly a third.

The $1.25 trillion figure still represents a substantial step up from OpenAI's previous $852 billion valuation, set during a $122 billion round closed in March. Coatue Management was in talks to co-lead the new round, with additional interest reported from investment funds in the United Arab Emirates and firms including BlackRock. The downsized deal, alongside rival Anthropic's decision to pursue an IPO at a lower-than-expected $1.4 trillion fully diluted valuation, has rattled venture capital markets and raised fresh concerns about stretched AI startup valuations.