Wire reporting: (Reuters, via CNA)

OpenAI completed an $11 billion portion of a new funding round at a $1.25 trillion valuation, The Verge reported, citing Bloomberg, after earlier talk of raising as much as $30 billion at $1.4 trillion¹.

That figure would follow a March raise of $122 billion at $852 billion, according to the same account, while OpenAI is still pursuing more capital that could bring the latest round toward $20 billion¹.

Rival Anthropic, which filed to go public last week, is approaching a planned listing as some investors question valuation and timing after a technology-stock selloff^1,3,4.

CNBC reported that people following the deal see Anthropic aiming for about $1 trillion to $1.5 trillion, down from $2 trillion discussed in recent months, with a possible mid-November Nasdaq debut³.

CNA carried a Reuters exclusive that potential investors were unsure whether a roadshow expected the week of Nov. 9 could still support a November listing, and that some viewed $1.5 trillion as the high end⁴.

TechCrunch, citing finance platform Ramp, said corporate token spending on AI grew only 1.5% across August and September after a 42% jump in July, even as usage rose, a pattern Ramp's economist tied to price cuts and tighter customer budgets².

Anthropic declined to comment in the CNBC and Reuters accounts^3,4.

OpenAI's completed slice of the round, the final size of any remaining raise, and whether Anthropic prices in November remain unconfirmed in public company statements reviewed here^1,3,4.