OpenAI's new funding round: first tranche of $11 billion received, valuation $1.25 trillion
According to people familiar with the matter, OpenAI has received about $11 billion as the first tranche of its new funding round, valuing the company at $1.25 trillion, with the total amount of this round potentially reaching up to $20 billion. OpenAI initially planned to raise at least $30 billion at a valuation of $1.4 trillion, but scaled back the plan due to the sharp sell-off of AI stocks in public markets; in March of this year, it had raised $122 billion at a valuation of $852 billion. Over the same period, Anthropic's expected IPO valuation also fell from the $2 trillion cited by some investors to $1.5 trillion, with the latest discussion range being $1.2 trillion to $1.3 trillion.
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The original text provides specific figures showing that both OpenAI's and Anthropic's funding valuations have been lowered, which can be compared with previous funding scales to observe changes in market expectations.
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According to media reports citing people familiar with the matter, OpenAI's new round of financing has received an initial payment of approximately $11 billion, valuing the company at $1.25 trillion.
According to people familiar with the matter, as of Friday, this initial funding had been transferred into OpenAI's accounts. The remainder of this financing round is expected to be completed in the coming weeks, with the total amount raised potentially reaching up to $20 billion.
People familiar with the matter said the investors participating in the first tranche include Coatue Management and T. Rowe Price. Other investors in this round include SoftBank Group, Sequoia Capital, Founders Fund and Andreessen Horowitz. It was previously reported that an investor consortium from the UAE also participated in this round.
After postponing its initial public offering (IPO) plans, OpenAI has been negotiating with investors for more than a month over a large-scale financing.
It was previously reported that OpenAI initially planned to raise at least $30 billion at a valuation of $1.4 trillion. But as AI stocks suffered a sharp sell-off in public markets, the company subsequently scaled back its financing plans.
OpenAI previously raised $122 billion at a valuation of $852 billion in a financing round in March this year.
OpenAI rival Anthropic, the developer of Claude, has also seen its expected IPO valuation sharply discounted. Just a month ago, some investors still believed that Anthropic could hit a $2 trillion market value when it went public. Recent reports said its IPO valuation has shrunk to $1.5 trillion. And now, with the formal roadshow about to begin, the psychological price levels of some potential buyers have fallen further.
The latest report on Friday shows that the latest valuation discussions took place after the U.S. midterm elections triggered a sharp slump in U.S. stocks. According to people familiar with the matter, some potential investors believe Anthropic's valuation should be between $1.2 trillion and $1.3 trillion.
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