OpenAI completes first tranche of $11 billion funding, valuation reaches $1.25 trillion, with SoftBank, Sequoia, and others participating.

Beating AI News Flash: According to Bloomberg, OpenAI has completed approximately $11 billion in financing, with the first tranche of funds arriving on Friday, corresponding to a company valuation of $1.25 trillion. The total amount of this financing round is expected to reach up to $20 billion, with the remaining portion expected to be settled in the coming weeks.

People familiar with the matter revealed that Coatue Management and T. Rowe Price participated in the first round of investment, while SoftBank, Sequoia Capital, Founders Fund, Andreessen Horowitz, and investors from the UAE also participated in this financing round.

OpenAI had previously planned to raise at least $30 billion at a valuation of $1.4 trillion, but subsequently lowered its fundraising target after the AI sector suffered a sell-off in public markets. The company had just completed $122 billion in financing in March this year, at a valuation of $852 billion.