OpenAI raises $11B at $1.25T valuation
The gist
OpenAI closed $11 billion in new funding at a $1.25 trillion valuation, under half its $30 billion target.
It is the first slice of a round that may reach $20 billion.
How it unfolded
- Mar 31, 2026OpenAI raised $122 billion at an $852 billion post-money valuation in its prior round.
- Oct 22, 2026CNBC reported OpenAI was raising up to $30 billion at a $1.25 trillion pre-money valuation, with UAE investors leading alongside Coatue.
- Oct 30, 2026The Financial Times reported OpenAI cut the round's target to about $20 billion at a $1.25 trillion valuation, down from $30 billion at $1.4 trillion.
Key terms
- post-money valuation
- A company's value after an investment, equal to its pre-money valuation plus the new equity invested.
- pre-money valuation
- A company's value before an investment or financing round, used to determine equity issued to investors.
- midterms
- US general elections held near the midpoint of a president's four-year term, when all House seats and about a third of Senate seats are contested.
Source: Wikipedia