AI: OpenAI likely lowers funding goal by ten billion dollars
The current sell-off in US tech stocks is increasing pressure on the ChatGPT developer. Investors are likely becoming increasingly concerned about the enormous expenses for artificial intelligence.
OpenAI has lowered its fundraising target for its latest round to $20 billion, down from $30 billion, according to a Financial Times report citing insiders. The ChatGPT developer is valued at $1.25 trillion, lower than the original $1.4 trillion. The reduction comes amid a sell-off in US tech stocks and investor concerns over massive AI spending.
Some investors have reportedly reduced their commitments, potentially resulting in less than the target sum being raised. OpenAI aims to complete the fundraising round before Anthropic's expected IPO in mid-November.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
