OpenAI reportedly closes an initial $11 billion in funding at a $1.25 trillion pre-money valuation

OpenAI reportedly raised an initial $11 billion at a valuation of $1.25 trillion before the investment. The company is reportedly targeting $20 billion for the full round, below its original $30 billion goal, and had initially sought a $1.4 trillion valuation. The remaining fundraising was expected to close in the weeks after the Nov. 6 report, rather than being completed alongside the initial tranche.