OpenAI Raises $11 Billion as AI Market Valuations Shift

On November 6, 2026, OpenAI finalized an $11 billion capital raise, marking the first phase of a funding round that brings the company to a valuation of $1.25 trillion¹. This information reflects market adjustments as sentiment toward artificial intelligence (AI) companies cools compared to previous periods¹.

Photo: Münster, LBS -- 2021 -- 9804 – Dietmar Rabich, CC BY-SA 4.0, via Wikimedia Commons.

Funding Round Developments and Major Players' IPO Plans

The newly raised $11 billion reaches only a fraction of the initial $20 billion to $30 billion target previously set by OpenAI^1,3,4. According to investors speaking with Bloomberg, the $1.25 trillion valuation is also lower than the $1.4 to $1.5 trillion the company had anticipated^1,3. This funding round includes participation from SoftBank and MGX¹. Previously, in March, OpenAI raised $122 billion at an $852 billion valuation³. Meanwhile, OpenAI's main rival Anthropic is preparing for an initial public offering (IPO) on the Nasdaq exchange under the ticker symbol ANT in the coming weeks².

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Valuation Pressures and Enterprise AI Spending Trends

Investors are now lowering expectations for Anthropic's IPO, suggesting that a $1.5 trillion valuation is a major challenge and the actual figure may fall around $1.1 to $1.25 trillion^2,4. This shift in sentiment follows a sharp drop on Wall Street, when the Nasdaq index plummeted more than 5% in a single day, reflecting concerns over policies in Washington and public backlash against data center construction^2,4. Additionally, data from Ramp shows that enterprise AI spending plateaued toward the end of the summer despite rising token usage volume⁵. Ara Kharazian, Ramp's chief economist, explained that API price wars and discounts from OpenAI and Anthropic have turned the sector into a buyer's market, challenging revenue growth rates for foundational model companies⁵.

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Vizy's take

According to Vizy, the fact that OpenAI and Anthropic have had to adjust their fundraising and valuation goals shows that the AI market is entering a more realistic phase after a period of overheated growth. As enterprise customers begin to optimize costs, leveraging routers and low-cost models to save budgets, foundational model developers will find it difficult to maintain high profit margins solely by relying on pure token volume. Vizy believes that pressure from financial markets and regulatory factors could continue to reshape how major AI firms structure their fundraising rounds and business strategies in the near future.

Sources

1. CNA – OpenAI gets $11 billion funding at $1.25 trillion valuation, source says (Sat, 07 No)
2. CNBC – Investors brace for lower Anthropic valuation, calling $1.5 trillion a 'stretch' (2026-11-06)
3. The Verge – OpenAI valued at $1.25 trillion, as rival Anthropic nears its IPO (2026-11-06)
4. TechCrunch – OpenAI reportedly raises an additional $11 billion at a $1.25 trillion valuation (2026-11-06)
5. TechCrunch – Ramp data shows AI spending stalling just as Anthropic nears its IPO (2026-11-06)

Compiled and analysed by Vizy from the sources above and reviewed by a Bống Media editor before publication. "Vizy's take" is the author's own opinion. For information only, not investment advice.