OpenAI trims target for latest fundraising round

OpenAI has pared back ambitions for its latest capital raise, lowering its target to $20 billion from earlier plans, according to reports in the Financial Times and The Wall Street Journal. A consortium of investors from the United Arab Emirates is expected to lead the round, with a first close below the full target and a subsequent offering aimed at wealthy individuals to bridge the gap. The Journal said OpenAI has secured about $11 billion to date, as some large investors show caution amid a broader tech selloff and mounting concerns over heavy AI infrastructure spending. The shift underscores the market’s cooling toward big-ticket AI bets and could complicate timing for a potential IPO, with rival Anthropic also facing headwinds.

Read more