OpenAI's funding round falls short of its target

OpenAI has raised an initial $11 billion in a new funding round that values the company at $1.25 trillion, Bloomberg News reported Friday, November 6. Reuters and Yahoo Finance reported the same figures the same day, each citing people close to the deal. Read more: OpenAI's funding round falls short of its target

Still, that's well short of what OpenAI set out to raise. In September, Bloomberg reported the company was seeking at least $30 billion at a valuation near $1.4 trillion, according to a report on the earlier target. OpenAI has since lowered its target for the round to around $20 billion, the Financial Times reported October 30.

The Wall Street Journal, however, reported limited investor enthusiasm for the smaller target, according to that report on the cut.

UAE-based investors, including Abu Dhabi's MGX, are reportedly leading the OpenAI funding round, according to multiple reports. OpenAI is also planning a later tranche, aimed at family offices and wealthy individuals rather than institutions alone. That tranche, or portion of the round, aims to help OpenAI reach its $20 billion target, according to one account.

The new number is still a jump from OpenAI's last disclosed round. The company raised about $122 billion in March 2026, sometimes rounded to $120 billion, at a valuation near $852 billion, anchored by Amazon, Nvidia and SoftBank.

A $1.25 trillion valuation would mark roughly a 45 to 50 percent increase from that round, even with the OpenAI funding round landing well short of its original ask.

Related: OpenAI sets shared usage allowance for ChatGPT and Codex

A cooling investor mood

The shortfall lands amid a broader pullback. Tech and AI stocks sold off sharply this week. Meanwhile, that reporting ties the softer demand to investor worries about AI data center and infrastructure spending. OpenAI has not publicly confirmed the $11 billion or $1.25 trillion figures.

Related: OpenAI funding target falls to $20 billion

OpenAI is not the only company affected by the slowdown. Bloomberg also reported Friday that buyers of rival Anthropic's planned stock listing now value it as low as $1.1 trillion. That's down from roughly $2 trillion expected about a month earlier.

OpenAI has pushed its own stock listing to at least next year.