OpenAI raises $11 billion at $1.25 trillion valuation amid concerns over AI spending and regulation

OpenAI has secured around $11 billion in fresh funding as the first tranche of a fundraising round that values the artificial intelligence company at $1.25 trillion, Bloomberg reported.

The funds had been transferred to the company by Friday, according to the Bloomberg, citing people familiar with the matter who requested anonymity. The remaining portion of the round is expected to be completed in the coming weeks, potentially taking the total fundraising to as much as $20 billion.