OpenAI Cuts Round to $20B at $1.25T Valuation — SkimNews
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- OpenAI is now seeking about $20 billion for its latest round, down from the $30 billion it previously aimed to raise.
- Some investors are cutting commitments amid an AI selloff, the stated backdrop for OpenAI tempering its ambitions for the round.
Why it matters: The sharper change is the valuation reset: OpenAI is now fundraising at a $1.25 trillion valuation, $150 billion below its earlier target, while reducing the amount sought by $10 billion. Investors are being asked to commit to a materially smaller round even as some are trimming commitments.
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