OpenAI has $11 billion in. The company has not said so

Bloomberg reported on 6 November that OpenAI had closed new funding of roughly $11 billion. The people it cited, who spoke without being named, said this is the first part of a round that values the company at $1.25 trillion, and that the money had been wired by Friday. Reuters then reported the same close, citing a person familiar with the matter. OpenAI declined to comment to Bloomberg. A wire story with no company statement is the news. It is not an accounts filing.

How much more is still open. Bloomberg’s sources said the rest of the round could take the total to as much as $20 billion, in the coming weeks. They named Coatue Management and T. Rowe Price in the first close, and SoftBank, Sequoia Capital, Founders Fund and Andreessen Horowitz among investors in the round. A separate Reuters account, citing investors, said SoftBank and MGX took part. Named by a source is not the same as named by the company.

The earlier target is not one number

What the company wanted before this close is already in dispute between the papers. Bloomberg has reported that OpenAI set out to raise $30 billion or more at a $1.4 trillion valuation, and then scaled the plan back. A Reuters source put an earlier valuation hope at $1.5 trillion, against an original target of up to $30 billion. The Wall Street Journal reported on 31 October that about $11 billion had been committed, at $1.25 trillion, less than half a $30 billion aim. A commitment in October and cash wired in November are not the same sentence. None of these figures is in a document OpenAI has published. There is no named data centre, no megawatt, and no date for a listing.