Published • loading... • Updated
OpenAI Cuts Funding Target by $10 Billion, FT Reports
- OpenAI reduced its funding target to $20 billion from $30 billion and lowered its valuation to $1.25 trillion from $1.4 trillion, the Financial Times reported on Friday, October 30, 2026.
- The tech-heavy Nasdaq dropped 2.9 per cent on Friday and is down 7.8 per cent from its Oct 6 peak, driven by growing worries over massive spending on artificial intelligence.
- Venture capital firms including Founders Fund, Coatue, Sequoia Capital, and Andreessen Horowitz are expected to participate, while a United Arab Emirates consortium led by MGX remains the largest participant.
- The 'first close' is expected to raise less than the target, the Financial Times added, after some participants reduced their allocations following the Friday, October 30, 2026 deadline.
- OpenAI secured options to lease computing capacity in the United Arab Emirates and plans a subsequent retail offering for wealthy individuals as it pursues a 2027 listing.
Insights by Ground AI
39 Articles
39 Articles
OpenAI, the maker of ChatGPT, has lowered the target amount for the latest funding round. Instead of 30 billion dollars, it would…
·Amsterdam, Netherlands (Kingdom of the)
Read Full Article
Artificial intelligence company OpenAI has lowered its fundraising goal for its new funding round to $10 billion.
·Tehran, Iran (Islamic Republic of)
Read Full Article
dagelijksestandaard.nl+2 Reposted by 2 other sources
LONDON (ANP/BLOOMBERG) - ChatGPT parent company OpenAI is lowering its new capital raising target because a sell-off of AI shares and the impending IPO of competitor Anthropic are making it more difficult to secure investor commitments. This is reported by the British business newspaper...
Coverage Details
Total News Sources39
Leaning Left2Leaning Right8Center7Last UpdatedBias Distribution47% Right
Bias Distribution
- 47% of the sources lean Right
47% Right
12%
C 41%
R 47%
Factuality
To view factuality data please Upgrade to Premium
