OpenAI reportedly cuts fundraising target to $20B and valuation target to $1.25T

OpenAI's proposed terms include an option to rent new compute capacity in the UAE; MGX-led investors may contribute most.

2 Sources, 27m ago, first seen 27m ago

TLDR

OpenAI reportedly cut its fundraising target from $30 billion to $20 billion and its valuation target from $1.4 trillion to $1.25 trillion. One account put commitments at roughly $11 billion as of October 31. An MGX-led UAE consortium may be the largest backer, and the proposed deal includes an option to rent newly built computing capacity in the UAE.

Today's Rank

—

Not ranked yet

Combined views

—

2 Sources, first seen 27m ago