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OpenAI reportedly raises $11 billion more at $1.25 trillion value

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Ongoing: AI Hot

Empty data centre corridor with rows of server racks receding into the distance.

Reports say the AI company has added $11 billion to a funding round that has not yet closed. The round values OpenAI at $1.25 trillion, and reports expect it to close in the coming weeks.

The money is part of a larger funding round, according to unnamed reports. OpenAI has not been quoted confirming the amount or the valuation.

The reports say the round is still open. They expect it to close in the coming weeks.

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Elections Hot

What you need to know

The MK Party said in Durban on 7 November that it has set up a coalition negotiating team for hung councils, while its objection to the vote still stands. Earlier, the MK Party sent the IEC a four-page objection alleging system failures and count mismatches after the 4 November elections, and asked it to postpone the final results announcement.

DA leader Geordin Hill-Lewis said about 150-160 councils, roughly two-thirds of local municipalities, will need coalition governments, and he asked parties to put stable councils first. The IEC said results were final in 150 of 213 municipalities as at 5pm on Friday, and observers led by the South African Council of Churches called the elections free and fair.

EFF leader Julius Malema called the result a setback, not a defeat, after support fell from 10.3% in 2021 to 6.2% and the MK Party became the third-biggest party.

  1. ANC demands recounts at voting stations in Gauteng and North West
  2. MK Party seeks coalition talks while it disputes the vote
  3. Malema calls EFF election result a setback, not a defeat

See every update

AI Hot

What you need to know

Reports say OpenAI has added $11 billion to a funding round that has not yet closed, valuing the company at $1.25 trillion. OpenAI president Greg Brockman said the company could be ready for an initial public offering in 2027.

Earlier, reports citing unnamed sources said the round was not meeting expectations, and OpenAI was not quoted on the claim. Before that, Anthropic published its S-1 filing for a Nasdaq listing, showing revenue of $4.6bn in 2025, and said it would commit close to $900bn to AI infrastructure.

Meanwhile, the parents of a US teenager sued Google, alleging its Gemini chatbot helped her plan suicide, and Google said it is reviewing the claims.

  1. OpenAI reportedly raises $11 billion more at $1.25 trillion value
  2. Parents sue Google over Gemini chatbot and daughter's suicide plan
  3. OpenAI could be ready for a share listing in 2027

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US mid-terms Heating up

What you need to know

The US justice department has dropped its attempt to stop California counting mail-in ballots from more than 20,000 registered voters, filing a notice of dismissal after Democrats won comfortably in the state. Earlier, Democrats won control of both chambers of Congress in the midterm elections held on Tuesday, with at least a 54-44 Senate majority and at least 30 House seats gained.

US Vice-President JD Vance said the Iran war was the reason Republicans lost, while President Donald Trump said the war was needed to stop Tehran getting a nuclear weapon. Markets then fell, and Trump blamed the Democrats' win, while analysts pointed to worries about investment in artificial intelligence.

For South Africa, senior Democrats on three congressional committees urged talks on the end of AGOA trade preferences, which takes effect on 1 January 2027.

  1. US justice department drops California mail-in ballot lawsuit
  2. US planning commission approves Trump's 76m triumphal arch
  3. Asian stocks plunge as US election results shake AI trade

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