OpenAI Completes $11 Billion New Round of Financing

en.Wedoany.com Reported - On November 6, U.S. artificial intelligence company OpenAI completed the first closing of its new round of financing, securing $11 billion in funding and reaching a company valuation of $1.25 trillion. Reuters, citing sources familiar with the matter, reported that Japan's SoftBank Group and UAE technology investment firm MGX have participated in this round of financing. The funds represent the first batch of proceeds from OpenAI's current financing round, with the transaction being carried out in stages.

OpenAI had previously planned to raise up to $30 billion through this financing round, initially seeking a valuation of up to $1.5 trillion. As financing negotiations progressed, the company adjusted its fundraising target to approximately $20 billion and lowered its valuation target to $1.25 trillion. Reports from October 30 indicated that some investors had reduced their originally planned subscription amounts, and the financing plan was adjusted accordingly.

This financing round attracted an investor group from the UAE, including Abu Dhabi technology investment fund MGX. Previous financing negotiations also involved investment institutions such as Coatue, Sequoia Capital, Founders Fund, and Andreessen Horowitz. Under the transaction arrangements previously disclosed, OpenAI may also obtain the option to lease additional computing capacity in the UAE.