Report
OpenAI reportedly cuts funding target from $30 billion to $20 billion amid AI selloff
OpenAI has reportedly secured $11 billion in commitments and lowered its proposed valuation from $1.4 trillion to $1.25 trillion.
TLDR
OpenAI reportedly secured $11 billion in commitments, cut its latest funding target from $30 billion to $20 billion and lowered its proposed valuation from $1.4 trillion to $1.25 trillion. Some investors reportedly reduced their commitments amid an AI selloff. OpenAI expected to raise more in the weeks following the October 31 report.
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