OpenAI reportedly lowers funding target to $20 billion
Original title: OpenAI reportedly lowers funding target for new round
The Financial Times says UAE investors will lead a smaller first close, and the Journal says $11 billion is secured.
OpenAI was earlier reported to be raising $30 billion at a $1.4 trillion valuation, then at $1.25 trillion, ahead of a planned IPO. The Financial Times says the target is now $20 billion, with a first close expected to be lower and led by investors from the United Arab Emirates. A retail offering for wealthy individuals could bring the total to $20 billion. The Wall Street Journal reports $11 billion secured so far and a tepid response from some large investors. TechCrunch has asked OpenAI for comment.
Unconfirmed: OpenAI has not confirmed the revised target or amount raised; the figures come from news reports.
- Earlier reports put the raise at $30 billion and a $1.4 trillion valuation.
- A later report cited a $1.25 trillion valuation ahead of a planned IPO.
- The FT says a retail offering could still reach the $20 billion target.
- The Journal describes fundraising interest from some large investors as tepid.
- TechCrunch says it contacted OpenAI and does not report a reply.
From the original article
1 min read at techcrunch.com
OpenAI’s latest funding round doesn't seem to be living up to expectations.
By Anthony Ha · techcrunch.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.