Funding commitments · AI
OpenAI secures about $11 billion in funding commitments, WSJ reports
The reported commitments value the AI company at $1.25 trillion as fundraising continues.
OpenAI has secured roughly $11 billion in commitments for its latest financing, The Wall Street Journal reported on October 30, citing people familiar with the matter. The reported valuation is $1.25 trillion.
The commitments cover part of an ongoing fundraise that initially targeted $30 billion. On October 31, TechCrunch reported, citing the Financial Times, that OpenAI had lowered its target to $20 billion. That target is separate from the roughly $11 billion committed so far.
OpenAI develops AI models and provides ChatGPT and an API platform for individuals, businesses and developers.