OpenAI has reportedly reached a valuation of $1.25 trillion after closing $11 billion in new funding, a source familiar with the matter told Reuters on November 6.
The raise is well short of OpenAI’s initial $30 billion goal, and the valuation trails the $1.5 trillion the company had sought. Bloomberg News reported that the full round, which could reach $20 billion, should close in the coming weeks.
The softer terms reflect cooling investor enthusiasm for AI over the past month. Some investors now value rival Anthropic’s planned initial public offering at about $1.5 trillion, down from earlier expectations of roughly $2 trillion.
Reuters also reported that potential backers doubt Anthropic can go ahead with its planned roadshow this week and a November listing. Even if a valuation is agreed, the company could postpone its IPO until market turmoil eases.
That turmoil has been severe. On November 5, a selloff erased $2.5 trillion in Nasdaq market value, its steepest one-day drop since April 2025. Investors worried that Democratic gains in the midterm elections could bring tighter scrutiny of AI, including data centre construction.
Democrats are preparing a slate of AI bills for when they take control of Congress in January. Rep. Bill Foster’s Real-Time Regulatory Study Act would direct financial regulators to build and publicly release open-source demonstration software. Rep. Lori Trahan plans a bill requiring independent safety testing of AI models and clarifying when companies are liable for harm.
Together, these developments signal a market that is reassessing AI valuations as regulatory risk rises.
