OpenAI closes about $11 billion as the first slice of a $1.25 trillion valuation round
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OpenAI received roughly $11 billion in new funding on Friday, Bloomberg reports, as the first tranche of a round valuing the company at $1.25 trillion. The full round could reach $20 billion in coming weeks after OpenAI cut an earlier bid for $30 billion at a $1.4 trillion valuation following an AI-sector selloff. Backers include Coatue Management, T. Rowe Price, SoftBank, Sequoia Capital, Founders Fund, Andreessen Horowitz, and a UAE consortium, with banks also recruiting wealthy individual investors.
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