OpenAI has reportedly raised an additional $11 billion as part of a funding round that hasn’t closed yet but is expected to in the coming weeks.

The new investment, which brings OpenAI’s total valuation to $1.25 trillion, values the company at nearly $2 trillion if all its shares are outstanding.

According to reports, this latest funding round was led by new investors including Fidelity Management and Research Company, which will own around 20% of OpenAI after the deal closes.

The existing OpenAI shareholders, including Microsoft, Alphabet, and T. Rowe Price Associates, are also participating in the funding round, with their stake reduced to around 40%.

OpenAI’s current CEO Sam Altman stated that the new investment will help accelerate the development of its AI technology, which is being used in a variety of applications including chatbots and language translation software.

The company has been actively developing its GPT-4 model, which was recently released to the public for the first time. This latest funding round aims to further enhance this technology.

OpenAI’s valuation surge is not unexpected, given the growing interest in AI technology and its potential applications across various industries.

The company has already made significant strides in developing its language processing capabilities, with its chatbot technology gaining popularity among businesses and consumers alike.

In 2021, OpenAI secured a deal with Microsoft to power its Bing search engine, marking the first major partnership for the startup.

As AI continues to evolve, companies like OpenAI are playing a crucial role in shaping the future of technology. Their latest funding round is a testament to their vision and commitment to developing cutting-edge AI solutions.