OpenAI has lowered its latest fundraising target from about $30 billion to as much as $20 billion, while the round remains open and its final size and terms are unsettled.
The lower target was reported on Saturday, October 31, after the Financial Times reported the change and CNBC said it had confirmed the lower figure. The round is reportedly being discussed at a valuation of $1.25 trillion after the funding, below an earlier target of $1.4 trillion. CNBC reported that fundraising is still under way, so the figures could change before the round closes.
The Financial Times said the first close could be less than $20 billion because some investors reduced their planned contributions. The change comes as investors examine the cost of building AI models and the computing infrastructure they need. It also comes amid a broader selloff in technology stocks.
According to CNBC, OpenAI has not publicly confirmed the reported change. The lower goal suggests a less favorable fundraising climate. The round remains open, so the final amount could still change.