OpenAI pares fundraising goal, now seeking up to $20 billion in latest round
The funding round is still in progress and has not closed, so the figures are subject to change, a person directly familiar with the deal told CNBC.
OpenAI has reduced its target for its current fundraising round to $20 billion, down from an initial $30 billion, according to sources told the Financial Times via Fortune. This adjustment also lowered the company's expected valuation to $1.25 trillion from $1.4 trillion. The funding round is still in progress and has not closed, meaning the figures remain subject to change, a person familiar with the deal told CNBC.
The shift in fundraising goals occurs amid investor concerns regarding massive spending plans by major technology companies. According to Fortune, OpenAI's rival Anthropic recently filed an S-1 ahead of a planned public offering next month, reporting soaring revenue and positive cash flow for the first half of the year. Additionally, Alphabet experienced its worst day on record on Thursday, falling approximately 12% as its cash flow declined in the third quarter.
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