OpenAI Said to Close First $11 Billion at $1.25 Trillion Valuation

What happened

The $11 billion was transferred on Friday, marking the first closing of the round, Bloomberg reported on Nov 6, citing people familiar with the matter; Reuters and CNBC later confirmed the report. Bloomberg said the round is not fully closed and could gain about $9 billion more in the coming weeks, reaching about $20 billion in total. OpenAI has not publicly confirmed the figures, and TechCrunch said the company did not respond to a request for comment.

The figures fall short of the September target: Bloomberg reported in late September that the company planned to raise more than $30 billion at a $1.4 trillion valuation; the Financial Times reported on Oct 30 that the target had been cut to about $20 billion at a $1.25 trillion valuation; the Wall Street Journal reported on Oct 31 that the company had secured about $11 billion in commitments so far. This site reported the target cut in a flash on Oct 31.

Against the previous round: the March 31 round set a post-money valuation of $852 billion, according to reports, so the $1.25 trillion figure is about 47% higher than the last round but below the $1.4 trillion target from September. The market backdrop: after the Nov 3 midterm elections, in which Democrats won the Texas and Georgia governorships, 40 of 41 local data-center restriction measures passed, and the Nasdaq Composite fell 5.5% on Nov 5. OpenAI chief financial officer Sarah Friar told CNBC on Nov 6 that the company will keep investing in AI data centers despite the election results.

Key facts

1. Reported by: Bloomberg, Nov 6, 2026, citing people familiar with the matter; Reuters and CNBC confirmed; OpenAI has not publicly confirmed the figures
2. First close: about $11 billion, transferred on Friday
3. Valuation: $1.25 trillion
4. Round status: not fully closed; about $9 billion more could follow in the coming weeks, for a total of about $20 billion
5. Original target: more than $30 billion at a $1.4 trillion valuation, as planned in September
6. Target cut: the Financial Times reported on Oct 30 that the target had been cut to about $20 billion at a $1.25 trillion valuation
7. Earlier commitments: the Wall Street Journal reported on Oct 31 that about $11 billion had been secured so far
8. Previous round: announced March 31 with a post-money valuation of $852 billion, according to reports; the new valuation is about 47% higher
9. Market backdrop: after the Nov 3 midterm elections, 40 of 41 local data-center restriction measures passed; the Nasdaq Composite fell 5.5% on Nov 5
10. Company comment: chief financial officer Sarah Friar told CNBC on Nov 6 that the company will keep investing in AI data centers; the company did not respond to TechCrunch's request for comment