OpenAI reportedly lowers funding target for new round

OpenAI's latest funding round is reportedly falling short of expectations. The company had initially been reported to be raising $30 billion at a $1.4 trillion valuation, later revised to $1.25 trillion, ahead of a planned IPO. However, The Financial Times reported that OpenAI has now lowered its funding target to $20 billion, with the first close expected to be even lower. The round is said to be led by a group of investors from the United Arab Emirates, and a subsequent retail offering for wealthy individuals could bring the total to the $20 billion target. The Wall Street Journal added that the company has secured $11 billion so far, with a "tepid" response from some large investors. TechCrunch noted that the funding challenges could partly be attributed to bad timing, as Wall Street investors have grown wary of heavy AI infrastructure spending, leading to a major selloff of tech stocks. Anthropic's planned IPO could also face challenges.

(Source：TechCrunch)