OpenAI lowers valuation target while raising up to $30 billion
Original title: OpenAI lowers valuation target, raises up to $30 billion
The Financial Times says investor demand was weaker than in earlier rounds, with UAE investors and Coatue leading.
OpenAI is closing a funding round of up to $30 billion after cutting its valuation target from $1.4 trillion to $1.25 trillion, according to the Financial Times and CNBC. The FT, citing internal documents, says demand was weaker than in previous rounds. The money is described as a bridge toward a possible IPO. OpenAI confidentially filed an IPO prospectus with the SEC in June, while Sam Altman later called the timing unfavorable. CNBC also reports talks on extra compute capacity through the UAE.
Unconfirmed: The round size and valuation come from FT and CNBC reports, not an OpenAI announcement.
- CFO Sarah Friar told employees in August that OpenAI would be public by 2027.
- Altman had already said internally in June that timing was unfavorable.
- Anthropic is also preparing an IPO, targeting $1.5 trillion to $2 trillion.
- Countries
- United Arab Emirates
From the original article
1 min read at the-decoder.com
OpenAI is closing in on a new funding round of up to $30 billion but has lowered its valuation target to get there. The article OpenAI lowers valuation target, raises up to $30 billion appeared first on The Decoder.
By Maximilian Schreiner · the-decoder.com
A short excerpt; the article and its images belong to the publisher. Summary, key facts and assessment above are AI-written from the article and can be wrong.