OpenAI shifts value to US$1.25 trillion as funding talks finalise
The value is lowered from US$1.4 trillion, with investor commitments expected to finalise next week
OpenAI has lowered its target valuation to US$1.25 trillion as funding talks near completion. The technology company, which is seeking to raise approximately US$30 billion, is in discussions with investors including Coatue Management and various funds from the United Arab Emirates. OpenAI previously raised US$122 billion in March at a valuation of US$852 billion.
The company expects to finalize investor commitments by the end of next week. Tech stocks have declined this week amidst mixed earnings results and concerns over excessive AI spending. OpenAI is delaying its IPO plans until 2027 to focus on AI safety.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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