OpenAI raises $11 billion of a $30 billion target
Original title: OpenAI raises just $11 billion of its $30 billion target as big investors lose their AI appetite
Valuation came in at $1.25 trillion, short of $1.4 trillion, and OpenAI reportedly plans an IPO early next year.
OpenAI secured about $11 billion in its latest round, less than half of a $30 billion target, the Wall Street Journal reported. The shortfall is tied to weaker interest from large investors during a tech sell-off after weak results from Google, Amazon, and Intel. OpenAI plans to seek up to $20 billion from family offices and wealthy individuals. Rival Anthropic is said to be growing revenue faster and could list as early as November.
Unconfirmed: Fundraising totals, valuation and IPO timing are attributed to the Wall Street Journal, not confirmed here by OpenAI.
- About $11 billion has been secured against a $30 billion target.
- Valuation is $1.25 trillion, below the $1.4 trillion goal.
- OpenAI plans to raise up to $20 billion from family offices.
- The company is reportedly planning an IPO early next year.
- Anthropic could go public as early as November, the report says.
From the original article
1 min read at the-decoder.com
OpenAI raised only about $11 billion in its latest funding round, less than half of the $30 billion it was targeting. At $1. 25 trillion, the valuation falls short of expectations, and major investors appear to be pulling back amid the recent tech sell-off.
By Matthias Bastian · 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.