TNW | Openai
OpenAI cuts its funding round target to $20bn, FT reports
Some investors cut their commitments as AI stocks fell. So far the OpenAI funding round has raised less than half of its $30bn goal, the WSJ reports.
Via TNW | Openai
·Excerpt
OpenAI has cut the target for its latest funding round by $10bn, to about $20bn. The Financial Times reported the cut on Friday 30 October, citing people with knowledge of the matter. Some investors reduced their commitments as AI stocks sold off, according to the report.
The round values OpenAI at $1.25tn. The company had first pitched $30bn at $1.4tn, then cut the valuation last week. TNW has not independently verified the report.
A first close below $20bn
OpenAI set…
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