OpenAI lowers funding goals as investors cool on AI

OpenAI has reduced its latest fundraising target from $30 billion to about $20 billion and lowered its desired valuation from $1.4 trillion to $1.25 trillion, according to reports from the Financial Times, The Wall Street Journal, and CNBC. The ChatGPT maker has so far secured roughly $11 billion in commitments, less than half of its original goal, with the first close expected below even the revised $20 billion figure after some investors trimmed their allocations. A UAE consortium including MGX is expected to lead the round, with participation from Founders Fund, Coatue, Sequoia, and Andreessen Horowitz. The revision comes amid a sharp tech sell-off, with the Nasdaq falling 2.9% and concerns mounting over AI capital spending and returns. Investors are increasingly scrutinizing OpenAI's massive compute commitments—estimated at $710 billion to $856 billion in multi-year infrastructure contracts—which behave like debt and pressure valuations. The funding cut also comes as rival Anthropic reports faster sales gains and prepares for its own public listing, raising questions about whether the AI investment boom can sustain its pace as capital becomes harder to secure and investors demand proof of returns.

(Source：LinkedIn)