AI · November 9, 2026
OpenAI Secures $11 Billion in First Phase of Funding Round
OpenAI has received approximately $11 billion in a new funding round, valuing the company at $1.25 trillion. This initial tranche represents the first stage of a broader financing plan that is expected to continue over the coming weeks. The total size of the round may ultimately reach $20 billion, although the full amount has not yet been secured. Investors transferred the initial funds to the company's accounts on Friday, with the remaining capital anticipated to arrive in subsequent installments.
The current funding structure reflects a significant adjustment from the company's original ambitions. OpenAI initially aimed to raise $30 billion or more, with a target valuation of $1.4 trillion. As negotiations progressed, the company lowered its fundraising goal to approximately $20 billion and adjusted the valuation to $1.25 trillion. The gap between the initial $11 billion received and the planned $20 billion total highlights a divergence between early expectations and the current market reality.
This shift aligns with broader changes in the artificial intelligence capital market. Investor enthusiasm for AI enterprises has cooled recently, coinciding with a notable adjustment in the technology stock market. Market participants are increasingly scrutinizing whether massive infrastructure investments can translate into sufficient commercial returns. Significant expenditures on data center construction, advanced chip procurement, and power supply have raised questions about the long-term profitability of the industry.
Political developments in the United States have further increased market uncertainty. The results of the midterm elections, in which the Democratic party achieved a clear victory, have introduced new variables. Voters in several regions expressed strong opposition to the construction of large data centers. This sentiment suggests that future data center projects may face stricter regulation, approval processes, and community resistance. For OpenAI, which relies heavily on computing resources, these changes could impact the speed of infrastructure expansion and future capital expenditure plans.
Competitor Anthropic is also preparing for an initial public offering. Reports indicate that some potential investors have lowered their valuation expectations for Anthropic, with some suggesting a valuation as low as $1.1 trillion. This is a marked decrease from earlier market expectations of approximately $2 trillion. The financing and listing plans of both companies reflect a changing valuation system in the AI capital market.
OpenAI had previously expressed intent to list in 2026 but subsequently postponed those plans. The market currently expects the company to launch its initial public offering at some point in 2027, although a specific date has not been formally confirmed. In March of this year, OpenAI completed a funding round of $122 billion, valuing the company at approximately $852 billion. The rise to a $1.25 trillion valuation indicates that investors are still willing to pay a high premium for the company's leading position in artificial intelligence, despite the reduction in the current funding target.