OpenAI lowered its fundraising target by $10 billion to $20 billion
OpenAI has cut its fundraising target by $10 billion, now seeking up to $20 billion rather than $30 billion, CNBC confirmed Saturday. A person directly familiar with the deal told CNBC the round remains in progress and figures could change. The Wall Street Journal reported about $11 billion in commitments so far; the Financial Times reported a $1.25 trillion valuation target.
More context
OpenAI has lowered its fundraising target by $10 billion and is now seeking up to $20 billion in its latest round, down from an earlier goal of up to $30 billion. CNBC confirmed the revised target Saturday. An unnamed source directly familiar with the deal told CNBC the round is not closed; figures could change. The Financial Times reported that OpenAI is seeking a $1.25 trillion valuation, down from $1.4 trillion, and that some investors reduced their allocations before a Friday commitment deadline. The Wall Street Journal reported that about $11 billion had been secured so far; the figure refers to reported investment commitments, not confirmation that the full amount was transferred. Investors from the United Arab Emirates are leading the round alongside Coatue, CNBC reported. Investors have also raised questions about whether AI spending will deliver adequate returns.
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Reporting
- Suara Garut — OpenAI Cuts Funding Target to $20 Billion
- CNBC — OpenAI pares fundraising goal, now seeking up to $20B in latest round
- Indiatimes — OpenAI Lowers Fundraising Target to $20 Billion Amid AI Market Turmoil, ETEnterpriseai
- NewsCord — OpenAI Slashes Funding Target to $20 Billion, Cuts Valuation to $1.25 Trillion: 7 outlets compared | NewsCord
- coinpaper.com — OpenAI Cuts Funding Target by $10B Amid AI Stock Selloff
- financefeeds.com — OpenAI Offers Wealthy Investors Access to $1.25 Trillion Valuation - FinanceFeeds
- kulu-media.com — OpenAI Funding Round Secures $11B, Below $30B Goal | Kulu Media
Verifier’s note
CNBC reports that OpenAI is seeking up to $20 billion, down from its earlier $30 billion target, and says it confirmed the news with a person familiar with the deal. Suaragarut.id, Coinpaper, ETEnterpriseAI, FinanceFeeds, Kulu Media, and NewsCord also report the reduced target, but attribute it to earlier coverage or summarize other reporting.