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OpenAI secures $11 billion funding tranche at a $1.25 trillion valuation

OpenAI received roughly $11 billion on Friday as the first tranche of a round valuing the company at $1.25 trillion, Bloomberg reported. The full round could reach $20 billion in coming weeks after OpenAI scaled back from seeking $30 billion at a $1.4 trillion valuation following an AI-sector sellof