OpenAI completes the first close of its $11 billion funding round, reaching a $1.25 trillion valuation, with SoftBank, Sequoia and other investors participating.
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Beating AI Flash News: According to Bloomberg, OpenAI has completed approximately $11 billion in financing, with the first tranche of funds arriving on Friday, valuing the company at $1.25 trillion. The total size of this financing round is expected to reach up to $20 billion, with the remaining portion set to close in the coming weeks. Insiders revealed that Coatue Management and T. Rowe Price participated in the first tranche, while SoftBank, Sequoia Capital, Founders Fund, Andreessen Horowitz, as well as investors from the United Arab Emirates also joined the round. OpenAI had originally planned to raise at least $30 billion at a $1.4 trillion valuation, but later lowered its financing targets following a public market sell-off in the AI sector. The company just closed a $122 billion financing round in March this year, with a valuation of $852 billion at that time.
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A crypto whale added 8,775 ETH to its holdings again after a 5-month gap, lifting its total position to 23,000 ETH.
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