OpenAI secures $11 billion, adjusts target from $1.5 trillion to $1.25 trillion

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

The $11 billion raised so far represents only a portion of OpenAI's original target of up to $30 billion, while the company's valuation has come down from the $1.5 trillion level it had initially sought.

SoftBank and MGX participated in the funding.

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