OpenAI has reportedly secured $11 billion in a new funding round, placing the AI lab's valuation at $1.25 trillion. According to sources familiar with the matter, this $11 billion represents a portion of a larger funding effort that has yet to be finalized. The round is anticipated to conclude within the coming weeks and may reach approximately $20 billion in total, according to one source.

This development follows earlier reporting from late September indicating that OpenAI was aiming to raise $30 billion in the upcoming round. The current figures fall considerably short of that initial target.

The news emerged just hours after separate reports revealed that potential buyers of shares in the IPO of OpenAI's chief competitor, Anthropic, are anticipating a significantly lower valuation than Anthropic had originally sought. Some potential buyers reportedly believe Anthropic's valuation could drop to as low as $1.1 trillion, compared with the $2 trillion that investors were expecting roughly a month ago.

OpenAI had previously suggested it would go public this year but later postponed those plans. Expectations now point toward an IPO sometime next year.

The AI market finds itself in a particularly uncertain position. The Democratic landslide in the U.S. midterms—combined with overwhelmingly negative voter sentiment surrounding data centers—has created unease throughout the market, with many anticipating potential regulatory challenges ahead.