OpenAI closes $11B tranche at $1.25T valuation, down from a $30B plan
OpenAI has closed about $11B of its new funding round at a $1.25T valuation, with the first tranche deposited and the remainder expected within weeks. SoftBank, Sequoia Capital, T. Rowe Price, Coatue Management and investor groups from Saudi Arabia and the UAE took part in the initial closing. ETtech reports that OpenAI scaled back an original plan exceeding $30B, citing shifting AI investment sentiment and infrastructure costs, and may add more funding later.
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