GoKawiil
Tech News
OpenAI has secured $11 billion in a new funding round that values the company at $1.25 trillion, according to Bloomberg sources. The round hasn't closed yet and is expected to reach roughly $20 billion in the coming weeks, falling short of the $30 billion target Bloomberg reported OpenAI was pursuing in September.
OpenAI is now seeking up to $20 billion in its latest funding round, down from an earlier target of $30 billion, CNBC confirmed, citing a person familiar with the matter. The Financial Times reported the round would value the company at $1.25 trillion post-money, with UAE investors and Coatue leading, and a Friday deadline set for investor commitments that led some to reduce their stakes.
OpenAI has reduced its fundraising target from a previously reported $30 billion to $20 billion, according to the Financial Times. The round is reportedly being led by UAE-based investors, with a possible retail offering for wealthy individuals to help reach the goal. The Wall Street Journal added that OpenAI has secured $11 billion so far, with some large investors reportedly showing a 'tepid' response.
Otter.ai has secured $320 million in new funding and launched three AI-powered features aimed at extracting insights from meetings rather than just transcribing them. The move shifts the eight-year-old company's focus from real-time transcription toward workplace productivity tools.
OpenAI closed a new funding round that brought in less than half of its targeted $30 billion, according to reports. The round valued the ChatGPT maker at $1.25 trillion, below the $1.4 trillion figure it had been seeking.
Bloomberg reports OpenAI is in talks with investors to raise at least $30 billion in a pre-IPO round valuing the company at about $1.4 trillion. The report cites a 70% jump in run-rate revenue since July, reaching $40 billion in August, following a strategic focus on coding. OpenAI previously raised $122 billion in March at an $852 billion valuation.
Investors have approached OpenAI proposing a fresh funding round that could value the company at $1.2 trillion, though no formal talks have begun, according to people familiar with the matter. Some backers see the round partly as a mechanism for employees to sell shares, similar to the roughly $7 billion secondary sale OpenAI completed in August following its $122 billion raise at an $852 billion valuation in March.
OpenAI has held early talks with investors about raising fresh capital at a valuation exceeding $1.2 trillion, according to reports. The round would come as the company prepares for a widely expected public listing next year.