OpenAI has reportedly completed an $11 billion initial closing in its latest funding round at a $1.25 trillion valuation. Reuters carried the Bloomberg report on Friday, which cited people familiar with the matter.
An October 30 Financial Times report, carried by Reuters, put the fundraising target at about $20 billion, down from $30 billion. But Chief Financial Officer Sarah Friar pushed back Friday against suggestions that OpenAI had scaled back its fundraising ambitions, according to Reuters’ account of her CNBC interview.
OpenAI builds ChatGPT and supplies AI models that developers use in their own applications. It also offers Codex, a coding agent for software engineers.
Friar said enterprise demand doubled in the third quarter from the previous quarter, according to the Reuters report. She also said OpenAI would press ahead with its US data-center expansion despite concerns about tighter scrutiny following this week’s Democratic midterm victories.