OpenAI reportedly cuts funding round target to ~$20B; Private Intelligence reportedly launches

OpenAI is reportedly seeking about $20 billion at a $1.25 trillion pre-money valuation, down from a $30 billion target and $1.4 trillion valuation. Some investors reportedly reduced their commitments amid a tech-stock selloff, and the first close is expected to raise less than $20 billion. Separately, Private Intelligence reportedly launched and is said to give businesses tighter data controls on OpenAI's top models.