OpenAI is reported to seek about $20 billion, with $11 billion committed

Reuters, citing the Financial Times on Oct. 30, said OpenAI is seeking about $20 billion at a $1.25 trillion valuation, down from a $30 billion target at $1.4 trillion, and that a first close is expected to raise less than $20 billion. A Dow Jones account dated Oct. 31 says people familiar with the matter put commitments so far at roughly $11 billion, less than half the original target, and that OpenAI hopes to raise up to $20 billion. OpenAI did not comment to Reuters. This is not a closed financing, and the March 2026 round of $122 billion at an $852 billion valuation is separate.