{
  "id": 17428481,
  "title": "OpenAI slashes funding target by $10 billion amid tech rout, FT reports",
  "url": "https://urgent.news/2026/10/31/openai-slashes-funding-target-by-10-billion-amid-tech-rout-ft-reports-17428481",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-31T16:08:55.000Z",
  "source": {
    "name": "CNBC",
    "slug": "cnbc",
    "url": "https://www.cnbc.com/2026/10/31/openai-funding-target-cut-10-billion.html"
  },
  "original_language": "en",
  "account": null,
  "summary": "OpenAI has reduced the target for its latest funding round by $10 billion amid a sell-off in tech stocks caused by artificial intelligence concerns, according to reports from the Financial Times cited by several outlets. The company is now seeking approximately $20 billion with a desired valuation of $1.25 trillion, down from a previous target of $1.4 trillion. Techmeme reports that the company has secured approximately $11 billion in commitments, which is less than half of an initial $30 billion target.\n\nThe ChatGPT maker set a Friday deadline for investors to commit to the round, though a \"first close\" is expected to raise less than $20 billion because some investors reduced their allocations, according to the Financial Times. A consortium of United Arab Emirates investors, including the state-backed technology fund MGX, is expected to be the largest participant. This deal would provide OpenAI the option to lease newly developed computing capacity in the region.\n\nVenture capital firms including Sequoia Capital, Andreessen Horowitz, Coatue, and Founders Fund are also expected to participate. The Financial Times added that wealthy individuals will have the option to invest in a subsequent retail offering at a $1.25 trillion valuation.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 9,
    "also_reported_by": [
      {
        "outlet": "Financial Times",
        "title": "OpenAI slashes funding target by $10bn as tech anxieties mount",
        "url": "https://urgent.news/2026/10/31/openai-slashes-funding-target-by-10bn-as-tech-anxieties-mount",
        "published": "2026-10-31T00:05:08.000Z"
      },
      {
        "outlet": "CNA - Business",
        "title": "OpenAI cuts funding target by $10 billion, FT reports",
        "url": "https://urgent.news/2026/10/31/openai-cuts-funding-target-by-10-billion-ft-reports-17314747",
        "published": "2026-10-31T00:17:17.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "OpenAI cuts funding target by $10 billion, FT reports",
        "url": "https://urgent.news/2026/10/31/openai-cuts-funding-target-by-10-billion-ft-reports",
        "published": "2026-10-31T00:18:27.000Z"
      },
      {
        "outlet": "Techmeme",
        "title": "Sources: OpenAI has secured ~$11B in commitments for its latest funding round, less than half its initial $30B target, and expects to raise more in coming weeks (Berber Jin/Wall Street Journal)",
        "url": "https://urgent.news/2026/10/31/sources-openai-has-secured-11b-in-commitments-for-its-latest-funding",
        "published": "2026-10-31T02:30:02.000Z"
      },
      {
        "outlet": "Economic Times Tech",
        "title": "OpenAI cuts funding target by $10 billion: FT",
        "url": "https://urgent.news/2026/10/31/openai-cuts-funding-target-by-10-billion-ft",
        "published": "2026-10-31T02:35:12.000Z"
      },
      {
        "outlet": "Tech in Asia",
        "title": "OpenAI cuts fundraising target to $20b as valuation falls",
        "url": "https://urgent.news/2026/10/31/openai-cuts-fundraising-target-to-20b-as-valuation-falls",
        "published": "2026-10-31T04:42:16.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "OpenAI slashes funding target by $10 billion amid tech rout, reports",
        "url": "https://urgent.news/2026/10/31/openai-slashes-funding-target-by-10-billion-amid-tech-rout-reports",
        "published": "2026-10-31T05:15:05.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "OpenAI slashes funding target by US$10 billion amid tech rout: FT",
        "url": "https://urgent.news/2026/10/31/openai-slashes-funding-target-by-us-10-billion-amid-tech-rout-ft",
        "published": "2026-10-31T07:46:58.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}