OpenAI reportedly secures about $11 billion in funding

OpenAI has secured about $11 billion so far at a valuation of $1,250,000,000,000, the Wall Street Journal said in an account relayed by The Decoder. The reported financing is less than half the company’s original fundraising goal.

The valuation is the price placed on the company, not the money raised. Frontier Now’s October 23 account, relaying CNBC’s October 22 reporting, identified the terms as “pre-money,” meaning the company’s value before the new investment.

Secured financing and fundraising targets

Separately, the Financial Times said on 30 October that OpenAI had reduced its fundraising target, citing people familiar with the matter. That account, relayed by CNA, described an expected first close—the initial completion of investment agreements—below the revised goal after some investors reduced their allocations.

The investor commitment deadline was 30 October 2026. The Financial Times account still described the first close as expected; OpenAI did not immediately respond to Reuters' request for comment outside regular business hours.

The Decoder linked the shortfall to fading interest from major investors during a technology-stock selloff. The Financial Times account linked the reduced target to a selloff driven by worries about superintelligence (SI).

Prospective investors and the next funding steps

The Financial Times expected a consortium of investors from the United Arab Emirates, including state-backed technology fund MGX, to be the largest participant. Under the prospective deal, OpenAI would gain an option to lease newly developed computing capacity in the region. Founders Fund, Coatue, Sequoia Capital and Andreessen Horowitz were also expected to participate.

Computing is a major funding need: Frontier Now, citing CNBC, said OpenAI told investors in February that it targeted roughly $600 billion in total computing spending by 2030, with this round providing part of that financing.

The Decoder said OpenAI planned a further raise from family offices, which manage wealthy families' money, and wealthy individuals, seeking up to the amount of its revised round target. The Financial Times separately described a subsequent offering to wealthy individuals at the same reported company valuation.

Reuters said OpenAI was pursuing a public listing in 2027 and wanted to close the funding round partly before rival Anthropic’s anticipated listing because both companies were approaching a similar investor base.