OPENAI CUTS FUNDING ROUND TARGET BY $10B, NOW SEEKS $20B AT $1.25T VALUATION, FT REPORTS
OpenAI had been planning to ra | Hanami
OPENAI CUTS FUNDING ROUND TARGET BY $10B, NOW SEEKS $20B AT $1.25T VALUATION, FT REPORTS
OpenAI had been planning to raise $30B at a $1.4T valuation, according to people with knowledge of the matter. It set a Friday deadline for investors to commit, and the first close is expected to raise less than $20B after some investors reduced their allocations.
Reuters reported earlier this month that OpenAI was racing to secure commitments before Anthropic's expected mid-November public market debut. OpenAI did not immediately respond to a request for comment. Per Financial Times, via Reuters.
Quoted @IPONewsroom_: OPENAI HAS REPORTEDLY CUT THE TARGET FOR ITS LATEST FUNDING ROUND BY $10 BILLION
It's now looking to raise $20 billion at a $1.25 trillion valuation, down from a plan to raise $30 billion, per the Financial Times
And the first close may come in even lower.
OpenAI set a Friday deadline for investors to commit, but the first close is expected to raise less than $20 billion after some investors reduced their allocations, according to the FT.
OpenAI did not immediately respond to a request for comment.
The report comes as tech stocks sold off on worries about massive AI spending. The Nasdaq Composite fell 2.9% today and is now 7.8% below its all-time closing high from October 6.