OpenAI secured $11 billion in new funding by November 6, 2026, at a $1.25 trillion pre-money valuation — below its initial target of $1.4 trillion. The round, led by SoftBank and MGX, covers only 37% of the original $30 billion goal, with potential follow-ons pushing total to $20 billion. CFO Sarah Friar confirmed the valuation on TV, noting a nearly 50% increase from March’s $852 billion valuation.
Despite AI stock sell-offs, OpenAI reported 70% quarterly growth, doubling enterprise revenue, 1.2 billion weekly ChatGPT users, and $1 billion ad run rate by August. The funding gap impacts Microsoft and NVIDIA, both dependent on OpenAI’s spending. Microsoft gained $207 million from its stake in Q3, while NVIDIA faces strain as OpenAI’s compute demands reach 12 gigawatts.
Analysts warn further valuation drops or a weak Anthropic IPO could pressure both labs. Microsoft appears less exposed than NVIDIA to OpenAI’s funding pace.
Source: Hacker News · Summarized by HeadlinesBriefing