OpenAI cuts latest funding target to $20 billion, FT reports

OpenAI has cut the target for its latest funding round by $10 billion and is now seeking to raise $20 billion at a reported $1.25 trillion valuation, according to the Financial Times, as reported by Reuters.

Reported terms of the round

The FT cited people with knowledge of the matter for the revised fundraising figure and valuation. The report describes the figures as a target, rather than a completed financing or a valuation confirmed by OpenAI.

How the target changed

Reuters said the company had previously been aiming to raise $30 billion at a $1.4 trillion valuation. That earlier $30 billion/$1.4 trillion target was previously reported by Reuters; it was not confirmed by OpenAI. The new reported plan would therefore represent a $10 billion reduction in the fundraising target and a lower proposed valuation.

What is confirmed

The available reports do not establish that the round has closed, identify participating investors or show that OpenAI has formally announced the terms. The figures remain attributed estimates from people familiar with the matter and should not be read as final transaction terms.

Sources

• Reuters: OpenAI cuts funding target by $10 billion, FT reports
• Bloomberg: OpenAI Targets $30 Billion in Funding at $1.4 Trillion Value

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