OpenAI has reduced its target for its latest funding round by $10 billion and is now seeking to raise $20 billion at a valuation of $1.25 trillion, according to a report by the Financial Times on Friday.
The newspaper, citing people familiar with the matter, reported that the artificial intelligence company had revised its fundraising ambitions from an earlier target of $30 billion at a $1.4 trillion valuation.
The change represents a reduction of approximately 33 per cent in the amount OpenAI is seeking to raise, alongside a $150 billion decrease in its targeted valuation.
Reuters had previously reported that OpenAI was aiming to raise $30 billion at a $1.4 trillion valuation. The earlier report, published on October 19, said the company was seeking to accelerate its fundraising ahead of a planned initial public offering by rival AI company Anthropic.
The latest report did not provide further details on the reasons for OpenAI’s revised fundraising target or identify the potential investors involved in the round.
