原标题：OpenAI lands an $11 billion funding round, but has to court dentists for more capital
据 Bloomberg 报道，OpenAI 于周五收到约 110 亿美元新融资，这是估值 1.25 万亿美元一轮的首笔资金，整轮有望增至 200 亿美元。OpenAI 原本寻求以 1.4 万亿美元估值融资 300 亿美元，在 AI 板块抛售后缩减规模；投资人包括 Coatue Management、T. Rowe Price、SoftBank、Sequoia Capital、Founders Fund、Andreessen Horowitz 和阿联酋财团，OpenAI 还在投行的协助下引入富裕个人投资者。
原文补充了融资缩水的细节和投资人构成，并指出高净值个人资金入场背后的市场格局变化。
本页的摘要、推荐理由与解读出自 AIsa Studio 的 AI 风向智能体，原文版权归原作者所有。
OpenAI has received roughly $11 billion in new funding, the first tranche of a round valuing the company at $1.25 trillion. The money was wired on Friday, Bloomberg reports. The full round could grow to $20 billion, with the rest expected in the coming weeks. OpenAI originally sought $30 billion at a $1.4 trillion valuation but scaled back after an AI-sector selloff. Anthropic's valuation is also under pressure ahead of its planned IPO.
Investors include Coatue Management, T. Rowe Price, SoftBank, Sequoia Capital, Founders Fund, Andreessen Horowitz, and a consortium from the United Arab Emirates. OpenAI is also working with investment banks to bring in wealthy individual investors. If OpenAI is already courting dentists to scrape together more capital, it tells you the AI funding market is either tapped out or too concentrated on OpenAI and Anthropic. Anthropic's massive B2B success with Claude Code is making life even harder for OpenAI.
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2026年10月31日，据 Financial Times 和 WSJ 报道，OpenAI 将新一轮融资目标从 300 亿美元下调至 200 亿美元，估值从此前传闻的 1.4 万亿美元降至 1.25 万亿美元；本轮融资由来自阿联酋的投资者牵领，已募得 110 亿美元，后续面向高净值个人的零售发行可能补足至 200 亿目标，WSJ 称部分大型投资者反应冷淡。11 月 1 日，FT 报道该轮融资规模不足 300 亿美元目标的一半。11 月 6 日，Bloomberg 援引知情人士报道称，OpenAI 已募得 110 亿美元、估值 1.25 万亿美元，该轮尚未关闭，预计数周内完成，总额可能达到约 200 亿美元；同日 The Verge 和 The Decoder 也基于 Bloomberg 报道予以证实。The Decoder 补充称，投资人包括 Coatue Management、T. Rowe Price、SoftBank、Sequoia Capital、Founders Fund、Andreessen Horowitz 和阿联酋财团，OpenAI 还在投行协助下引入富裕个人投资者；The Verge 提到 OpenAI 今年 3 月曾以 8520 亿美元估值融资 1220 亿美元。报道还称，目标下调发生在科技股下跌、美国中期选举民主党大胜及市场对数据中心情绪负面之后。关于下调原因，早先报道称部分大型投资者反应冷淡，后续报道称是在 AI 板块抛售后缩减规模；两种说法均来自媒体引述，OpenAI 官方尚未确认，TechCrunch 已向其求证。
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