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) — SkimNews
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- OpenAI has secured roughly $11 billion in commitments for its latest funding round — less than half the $30 billion it initially targeted — and expects to raise more in coming weeks.
- OpenAI's latest round values the ChatGPT maker at $1.25 trillion, below the $1.4 trillion target that came with the original $30 billion ask.
- OpenAI now seeks about $20 billion for the round, with some investors cutting their commitments amid an AI selloff, according to the Financial Times.
Why it matters: Some investors have cut commitments amid an AI selloff, while OpenAI has secured roughly $11 billion against a $30 billion goal at a $1.25 trillion valuation, below the $1.4 trillion target. For the ChatGPT maker, the round is delivering materially less than the amount originally being marketed, even as more money is still being sought.
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