OpenAI lands an $11 billion funding round, but has to court dentists for more capital

OpenAI has received roughly $11 billion in new funding as the first tranche of a round valuing the company at $1.25 trillion, with the full round potentially reaching $20 billion, according to Bloomberg. OpenAI originally sought $30 billion at a $1.4 trillion valuation but scaled back after an AI-sector selloff, and it is also working with investment banks to bring in wealthy individual investors. Investors include Coatue Management, T. Rowe Price, SoftBank, Sequoia Capital, Founders Fund, Andreessen Horowitz, and a consortium from the United Arab Emirates.