What changed
OpenAI Group PBC has reportedly raised $11 billion in new funding as part of a funding round that could nearly double in size over the coming weeks. The funding was reportedly wired to the company today, according to sources cited by Bloomberg. The deal is expected to value the company at $1.25 billion, potentially allowing it to surpass Anthropic PBC’s market capitalization.
What this means in practice
The latest funding round includes contributions from major investors such as Microsoft Corp., which has participated in at least four of OpenAI’s previous rounds. The company plans to go public in 2027, and the cash infusion should help finance its steep infrastructure expenses until the listing. OpenAI’s enterprise business, which saw sales more than double, has been a key driver of its growth. The company also announced the debut of GPT-6 Cyber, a model that can perform most cybersecurity tasks better than GPT-6 Astra, its most capable general-purpose model.
Limitations and availability
The supplied announcement does not specify the exact terms of the funding round or the final valuation. OpenAI President Greg Brockman noted a slowdown in the first half of the year, with growth accelerating after the June launch of GPT-5.6 Sol. The company’s growth is also attributed to its ChatGPT Work productivity application and coding tools. Anthropic, meanwhile, is expected to kick off its IPO roadmap next week, with plans to go public before Thanksgiving.
