TL;DR
OpenAI received about $11 billion on November 6 in the first close of a funding round, according to Bloomberg and CNBC. CFO Sarah Friar said the round is ongoing and described the $1.25 trillion valuation as pre-money; reports say the company could raise up to another $9 billion.
OpenAI received about $11 billion on November 6 in the first close of a funding round that values the company at $1.25 trillion before the new money, according to Bloomberg and CNBC. The amount is below an earlier reported target of at least $30 billion, although CNBC reported that OpenAI could raise as much as another $9 billion in the coming weeks.
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Bloomberg reported that the initial funding had been wired on November 6, citing people familiar with the matter. CNBC said it independently confirmed the roughly $11 billion first close. OpenAI has not released a public announcement detailing the round, and its exact total will remain unsettled while fundraising continues.
Chief Financial Officer Sarah Friar told CNBC that the round is ongoing and that the $1.25 trillion valuation is pre-money, meaning it is measured before the new investment is added. She did not state the size of the first close in the interview. Friar said, “a good CFO always raises money when she can.”
Bloomberg, as reported by other outlets, named Coatue Management and T. Rowe Price among contributors to the first close. SoftBank, Founders Fund, Sequoia Capital, Andreessen Horowitz and backers from the United Arab Emirates have also been reported as participants in the broader round. OpenAI has not published a complete investor list or individual contribution amounts.
A Smaller Raise at a Higher Valuation
The gap between the reported initial target of at least $30 billion and the first $11 billion close gives investors and OpenAI customers a measure of how much capital the company has secured so far, while showing that the round is not complete. CNBC’s report that up to another $9 billion may be raised would bring the total to about $20 billion, still below the original figure reported by Bloomberg.
The valuation remains exceptionally high even with the smaller first close. OpenAI announced a $852 billion post-money valuation in March 2026; the November figure is $1.25 trillion pre-money. Those measures use different bases, so a direct comparison needs care. Adding the new investment to the November pre-money figure would put the implied post-money value higher still, depending on the final amount raised.
For businesses that use OpenAI services, the funding news is a signal about the scale of capital available to the company, not a direct update on product terms or service reliability. The reports do not establish how the proceeds will be spent, or whether the round’s final size will change OpenAI’s plans for infrastructure and product development.
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From March’s $852 Billion Mark
OpenAI’s announced funding valuations rose from $157 billion in October 2024 to $300 billion in March 2025, then to $852 billion in March 2026. The company said it raised $6.6 billion in 2024, $40 billion in March 2025 and $122 billion in March 2026. Those earlier valuations were reported as post-money, including the funds raised.
The November $1.25 trillion figure is described by Friar as pre-money. The distinction matters: comparing it directly with March’s post-money valuation does not use the same basis. Earlier coverage also differed on the November round’s valuation basis. CNBC described the figure as pre-money in October, while the Financial Times called it post-money in an October 31 report. Friar’s interview is the cited on-record account for the current round.
Reports also describe a changing fundraising target. Bloomberg reported an initial ask of $30 billion or more at a $1.4 trillion valuation; Reuters, citing two investors, reported an earlier asking price of $1.5 trillion. Friar disputed the higher valuation figure during her CNBC interview. These reported figures describe negotiations and targets, not a finalized public term sheet.
Final Amount and Terms Remain Open
OpenAI has not disclosed the final size, complete investor roster or individual contributions. CNBC reported that the company could raise up to another $9 billion, but that amount has not been confirmed as closed. It is not clear when the round will finish or whether its final total will match that reported possibility.
The reported initial fundraising target and valuation also vary among accounts. Bloomberg and Reuters cited different earlier valuation figures, and the available reporting does not include a public term sheet that would resolve the discrepancy. OpenAI declined to comment on the funding, according to 24/7 Wall St.; Friar’s comments address the round’s status and valuation basis, not every reported term.
Investors’ reasons for committing less than the initial reported target have not been confirmed by OpenAI or Friar. Bloomberg and CNBC coverage pointed to greater caution about AI spending and concerns that U.S. midterm election outcomes could complicate data-center development. Those are reported market considerations, not a stated explanation from the company for the first close’s size.
More Closings Could Follow
The immediate development to watch is whether OpenAI secures the additional funding reported by CNBC in the coming weeks. Any further close would clarify the round’s total and how much it differs from the initial target. OpenAI has not announced a date for a final close.
A company announcement or additional on-record comments could also clarify the full investor list, final terms and intended use of the proceeds. Until then, the $11 billion first close and Friar’s description of a $1.25 trillion pre-money valuation are the main details supported by the cited reporting and her interview.
Key Questions
How much did OpenAI raise in the first close?
Bloomberg reported, and CNBC said it confirmed, that OpenAI received about $11 billion on November 6, 2026.
Is OpenAI’s funding round complete?
No. Sarah Friar said the round is ongoing. CNBC reported that OpenAI could raise up to another $9 billion in the coming weeks, but that additional amount has not been confirmed as closed.
What valuation did Friar give for OpenAI?
Friar described the round as valuing OpenAI at $1.25 trillion pre-money, meaning before the new investment is added.
Why did the first close come in below the reported target?
The reason has not been confirmed by OpenAI. Coverage cited investor caution around AI spending and possible obstacles to data-center development, but those reports do not establish the company’s explanation for the amount raised so far.
Source: Thorsten Meyer AI
