TechCrunch, citing Bloomberg, says OpenAI has raised $11 billion at a $1.25 trillion valuation

According to TechCrunch, citing Bloomberg, OpenAI has raised $11 billion in a new funding round that values the company at $1.25 trillion. The round is still open and is expected to close in the coming weeks, with a source telling Bloomberg it could total about $20 billion. In late September, Bloomberg said OpenAI was seeking $30 billion in the round, a target the current figures fall well short of. TechCrunch said it reached out to OpenAI for comment and will update the story if the company responds.