OpenAI valuation reaches $1.25 trillion in new funding round

OpenAI is valued at $1.25 trillion after a new funding round brought in another $11 billion, according to Bloomberg. That valuation would place the company among the world’s most valuable businesses.

The latest financing follows a much larger fundraising effort in March, when OpenAI raised $122 billion from investors at a valuation of $852 billion. The new figure represents a substantial increase over that earlier valuation.

Bloomberg reports that OpenAI is continuing to seek additional investment, which could bring the total raised in the current round to $20 billion. The company had initially aimed to raise as much as $30 billion at a valuation of $1.4 trillion. Those plans were made before technology stocks declined, according to the report. The latest figures echo reports published last week by the Financial Times and The Wall Street Journal.