OpenAI reportedly lowers funding target for new round
OpenAI has secured $11 billion so far toward a reduced $20 billion target, according to The Wall Street Journal.
Earlier reports put the planned raise at $30 billion, with valuations first of $1.4 trillion and then $1.25 trillion ahead of a planned IPO. The Financial Times says investors from the United Arab Emirates will lead the round, with an initial close expected below $20 billion. A subsequent offering to wealthy individuals could bring the total to that target. The Journal described some large investors’ response as “tepid”; TechCrunch has asked OpenAI for comment.
TechCrunch AI's note
Earlier reports put the planned raise at $30 billion, with valuations first of $1.4 trillion and then $1.25 trillion ahead of a planned IPO. The Financial Times says investors from the United Arab Emirates will lead the round, with an initial close expected below $20 billion. A subsequent offering to wealthy individuals could bring the total to that target. The Journal described some large investors’ response as “tepid”; TechCrunch has asked OpenAI for comment.
TechCrunch AI's note
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