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OpenAI closes $11 billion funding tranche at $1.25 trillion valuation

OpenAI has closed the first $11 billion of a new funding round valuing the company at $1.25 trillion, Bloomberg reported Friday, citing people familiar with the matter. The funds were wired as of Friday; the rest of the round, which could reach about $20 billion, is expected in coming weeks. OpenAI had originally sought $30 billion or more at a $1.4 trillion valuation before scaling back amid an AI-stock selloff.

Source: Bloomberg

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