OpenAI Cuts Funding Target to $20 Billion from $30 Billion
Summary
OpenAI now seeks up to $20 billion in its latest funding round, down from an earlier target of about $30 billion, CNBC confirms. The Financial Times reports a $1.25 trillion post-money valuation, with UAE investors and Coatue leading. The round remains open and terms could change as AI stocks fell Friday.
Key Points
- FT reports OpenAI set a Friday deadline for investors to commit, with some investors cutting their allocations.
- Intel falls 25% on lackluster revenue guidance as AI-linked stocks sink.
- Alphabet's Philipp Schindler says lower monetization within AI Mode partly drove the search revenue impact.