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OpenAI received about $11 billion on November 6 as the first close of a funding round, according to Bloomberg and CNBC. CFO Sarah Friar said the $1.25 trillion valuation is pre-money; CNBC reported the company could raise up to another $9 billion, but the round remains open.
OpenAI received about $11 billion on November 6 in the first close of a funding round that values the ChatGPT maker at $1.25 trillion before the new money, Bloomberg reported, and CNBC said it independently confirmed the close. OpenAI CFO Sarah Friar described the valuation as pre-money in a CNBC interview; the round remains open, with up to $9 billion more reportedly possible.
The reported first close is smaller than the amount OpenAI was said to be seeking earlier in the process. Bloomberg reported that the company had initially sought $30 billion or more. CNBC reported that OpenAI could raise as much as an additional $9 billion in the coming weeks, which would bring the round to about $20 billion. That possible total is not a completed raise, and the funding round is still underway.
Friar confirmed the valuation figure in an interview at the Citi TMT Leadership Summit in Pebble Beach, California, and said it was measured before the new capital was added. She did not state the amount of the first close on air, according to the source material. OpenAI declined to comment on the funding, 24/7 Wall St. reported.
The investor names have been reported by news outlets, but OpenAI has not published a full list. Bloomberg, as reported by Verdict, said Coatue Management and T. Rowe Price contributed to the first close. SoftBank, Founders Fund, Sequoia Capital, Andreessen Horowitz and investors from the United Arab Emirates have also been reported as participants in the broader round. Individual commitments have not been disclosed.
A Larger Price, a Smaller First Close
The gap between the reported initial target and the first close gives investors a more concrete measure of the round than the earlier fundraising reports did. The company has received a substantial amount, but the $11 billion first close is well below the more than $30 billion reportedly sought at the outset. Whether the round reaches the reported $20 billion potential total will affect how much new capital OpenAI adds at this valuation.
The valuation also matters beyond the investors. OpenAI is a major provider of AI tools used by businesses and consumers. A funding round at this scale signals continued access to private capital for the company, while leaving open questions about the cost of sustaining its expansion and the expectations attached to the price. The funding report alone does not establish how the money will be spent or what commercial results investors expect.
Comparisons with earlier valuations require care. OpenAI announced a $852 billion post-money valuation in March 2026. Friar described November’s $1.25 trillion figure as pre-money, which excludes the new investment. On an approximate post-money comparison, adding $11 billion would put the valuation near $1.261 trillion, about 48% above March’s figure. Those figures use different reported bases, so the percentage is an estimate rather than a direct like-for-like comparison.
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From March’s $852 Billion Valuation
OpenAI announced three earlier funding rounds in the source material: $6.6 billion at a $157 billion post-money valuation in October 2024; $40 billion at $300 billion in March 2025; and $122 billion at $852 billion in March 2026. The reported November round marks another increase, but its stated pre-money basis differs from those earlier post-money figures, which include the new investment.
Reports about the target price have also varied. Bloomberg reported an initial valuation target of $1.4 trillion, while Reuters, citing two investors, put the initial asking price at $1.5 trillion. Friar disputed the higher figure in her CNBC interview. The source material does not resolve how the different target figures arose or which one OpenAI used in negotiations.
The funding effort comes amid investor caution about AI spending. Bloomberg and CNBC also reported concerns that the November 3 U.S. midterm elections could create obstacles to building new data centers. Those factors provide context for the reported change in fundraising expectations, but the available reporting does not establish that either one caused the first close to be smaller than the earlier target.
The Round’s Final Size Is Unknown
OpenAI has not publicly confirmed the full terms or published a list of investors. The $11 billion first close was reported by Bloomberg and confirmed by CNBC, while the possibility of raising up to another $9 billion comes from CNBC’s reporting and remains prospective. It is not yet clear whether OpenAI will reach that amount, when the round will close, or how much each investor committed.
There is also a discrepancy in earlier descriptions of the valuation target and basis. Reports cited figures of $1.4 trillion and $1.5 trillion for the initial target, and prior coverage characterized the $1.25 trillion figure differently. Friar’s on-record description makes the pre-money basis the clearest current account, but the source material does not include published financing documents that would settle every term.
More Funding Terms May Follow
The next development to watch is whether OpenAI raises additional capital in the coming weeks, as CNBC reported it could, and whether the company or its investors disclose the round’s final amount and terms. A final close would clarify how much of the reported fundraising target was achieved.
Until then, the confirmed on-record detail from Friar is the $1.25 trillion pre-money valuation. The reported investor roster, possible additional $9 billion and explanations for the smaller first close remain subject to further disclosure or reporting.
Key Questions
How much did OpenAI raise in the first close?
Bloomberg reported that OpenAI received about $11 billion on November 6, and CNBC said it independently confirmed the first close.
What does the $1.25 trillion valuation mean?
Friar described it as a pre-money valuation, meaning the value before the new funding is added. The round’s final terms have not been publicly released.
Could OpenAI raise more in this round?
Yes. CNBC reported that the company could raise up to another $9 billion in the coming weeks. The round is ongoing, so that amount is not yet confirmed as raised.
Who invested in the round?
Bloomberg, as reported by Verdict, named Coatue Management and T. Rowe Price as contributors to the first close. Other reported participants include SoftBank, Founders Fund, Sequoia Capital, Andreessen Horowitz and backers from the United Arab Emirates. OpenAI has not published a complete investor list.
Source: Thorsten Meyer AI
