By Paul Derrington, Jr.
CEO | Chief Engineer | Research Engineer | Editor, D-CSIL
2 min read
Key Takeaways
Reuters reported on November 6 that OpenAI had closed an initial $11 billion portion of a funding round at a $1.25 trillion valuation. The wider round remains open, according to reporting cited by SiliconANGLE. These are reported figures, not a company announcement.
What the reports establish
Reuters cited a source familiar with the financing and reported that SoftBank and MGX participated, according to investors. The Wall Street Journal separately described roughly $11 billion in commitments. Those descriptions should not be treated as interchangeable evidence of cash received.
SiliconANGLE, citing Bloomberg, reported that the round could raise up to another $9 billion in the following weeks. The final size and closing date remain uncertain.
A lower reported target
On October 30, Reuters, reporting the Financial Times' findings, said the fundraising target had fallen by $10 billion to about $20 billion and that some investors had reduced their allocations. That is an attributed account of the fundraising process, not a company-confirmed explanation.
The Journal also reported limited interest from some large investors. These accounts describe fundraising that is still in progress, rather than the final outcome of the round.
The March benchmark
On March 31, 2026, OpenAI announced that it had closed a round with $122 billion in committed capital at an $852 billion post-money valuation. Its announcement lists SoftBank and MGX among the participants.
The reported $1.25 trillion figure is numerically about 47% higher than $852 billion. That calculation is not a like-for-like valuation comparison: the March figure explicitly includes the new capital, while the sources reviewed here do not specify the basis of the new figure. The March announcement also describes commitments, not a statement that all $122 billion had been received in cash.
IPO timing remains separate
On June 8, OpenAI announced that it had recently submitted a confidential draft S-1 to the SEC. June 8 is the announcement date; the company did not give the submission date.
Reuters reported on November 4 that OpenAI President Greg Brockman said he believed the company would be ready for an IPO in 2027. Readiness is not a confirmed listing date.