Sources: OpenAI now seeks ~$20B at a $1.25T valuation for its latest round, from $30B at a $1.4T valuation, as some investors cut commitments amid an AI selloff (Financial Times)

OpenAI is seeking approximately $20 billion at a $1.25 trillion valuation for its latest funding round, according to the Financial Times. This follows a previous target of $30 billion at a $1.4 trillion valuation, a shift the Financial Times reports comes as the company tempers its ambitions and some investors reduce commitments during an AI selloff.

In a separate legal development, the Wikimedia Foundation has filed an amicus brief regarding the ongoing lawsuit filed by The New York Times against OpenAI and Microsoft. The Wikimedia Foundation argues that a ruling favoring a highly restrictive version of fair use could hinder technological innovation and open source projects, while a ruling favoring blanket fair use could result in a more closed web.

The Foundation's position suggests that while large language models should be permitted to train on copyrighted materials, those materials should not be used in retrieval-augmented generation.

Brief written by urgent.news from Techmeme, The A.V. Club — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.