OpenAI raises $11B at a $1.25T valuation

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OpenAI has secured $11 billion in new funding at a $1.25 trillion pre-money valuation, falling short of its initial target of $30 billion or more at a $1.4 trillion valuation. The round, which saw participation from SoftBank and Abu Dhabi's MGX, was impacted by a broader AI stock sell-off. This funding is crucial for both Microsoft and NVIDIA, as both companies have significant dependencies on OpenAI's financial stability and compute needs.