OpenAI Reportedly Cuts Fundraising Target to $20 Billion After Securing About $11 Billion

1. 00:12
   TechCrunch · AI

   OpenAI reportedly lowers funding target for new round

   OpenAI has lowered its funding target to $20 billion, the Financial Times reported, following earlier reports of a $30 billion raise at valuations of $1.4 trillion and then $1.25 trillion ahead of a planned IPO. The FT said investors from the United Arab Emirates would lead the round, with a later offering to wealthy individuals potentially bringing funding to the target. The Wall Street Journal reported that OpenAI has secured $11 billion so far and encountered a tepid response from some large investors.

1. 17:22
   The Decoder

   OpenAI raises about $11 billion against $30 billion target as investor appetite fades

   OpenAI has secured about $11 billion against a $30 billion fundraising target at a $1.25 trillion valuation, below its $1.4 trillion goal, according to the Wall Street Journal. The shortfall reportedly reflects fading interest from major investors amid a tech sell-off following weak quarterly results from Google, Amazon, and Intel. OpenAI now plans to raise up to $20 billion from family offices and high-net-worth individuals and is reportedly planning an IPO early next year.

1. 17:49
   The Decoder

   OpenAI lowers valuation target while nearing funding round of up to $30 billion

   OpenAI is nearing a funding round of up to $30 billion after lowering its valuation target from $1.4 trillion to $1.25 trillion, according to Financial Times and CNBC reporting. The FT reports weaker investor demand following heavy investments in earlier rounds. UAE investors and Coatue are leading the round, which is positioned as bridge funding ahead of a potential IPO.

2. 06:08
   TechCrunch · AI

   OpenAI Seeks Up to $30 Billion at a $1.25 Trillion Valuation Ahead of IPO

   OpenAI is reportedly working to raise up to $30 billion at a $1.25 trillion pre-money valuation in a round led by Coatue and investors in the UAE, rather than moving directly toward an IPO. Terms are still being negotiated and could change; CNBC also reports the UAE funding could be paired with a deal for more computing capacity. OpenAI declined to comment.

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