OpenAI Reportedly Lowers Funding Target to $10 Billion
According to sources, OpenAI has lowered its new funding target from $30 billion to around $20 billion, with its valuation dropping from the planned $1.4 trillion to $1.25 trillion. Some investors have reduced their commitments, and the initial round is expected to raise less than $20 billion; subsequent subscriptions open to wealthy individuals could bring the total to approximately $20 billion.
OpenAI Reportedly Lowers Funding Target to $10 Billion
According to people familiar with the matter, OpenAI has reduced its target for a new funding round from $30 billion to about $20 billion, with its valuation lowered from the originally planned $1.4 trillion to $1.25 trillion.
Some investors have scaled back their commitments, and the initial round is expected to raise less than $20 billion; subsequent subscriptions opened to wealthy individuals could bring the total to around $20 billion. This comes as tech stocks are being sold off and concerns about the scale of AI spending are mounting.
Financial Times
https://www.ft.com/content/7a3ad950-1b3b-4d9e-8c15-65a61ae6180f?syn-25a6b1a6=1