Running story, Business

OpenAI raises $11 billion at $1.25 trillion valuation amid concerns over AI spending and regulation

What we know so far: 4 reports from 5 outlets, first at 31 Oct, 08:05 IST, latest at 7 Nov, 09:11 IST. Headlines and summaries are quoted from each outlet, oldest first; each links to the original report.

1. Saturday 31 October
2. 08:05 ISTET TechOpenAI cuts funding target by $10 billion: FT
3. Saturday 7 November
4. 07:07 ISTHindustan TimesOpenAI completes $11 billion portion of funding at $1.25 trillion value

   OpenAI has closed on new funding of roughly $11 billion, the initial part of a round that values the company at $1.25 trillion.

5. 07:59 ISTET TechOpenAI gets $11 billion funding at $1.25 trillion valuation: Report
6. 09:11 ISTMintOpenAI raises $11 billion at $1.25 trillion valuation amid concerns over AI spending and regulation

   OpenAI has secured $11 billion in the first tranche of a funding round valuing it at $1.25 trillion, with the total potentially reaching $20 billion. The fundraising comes amid a tech sell-off and growing investor concerns over AI spending and regulation.