OpenAI cut its funding target by $10B as the tech rout bites. The AI buildout's cost side was never the debate, the funding side is now, and private marks are the next thing to reprice. Watch the whol

What happened: OpenAI is seeking about $20 billion in funding at a desired valuation of $1.25 trillion, according to the FT, which reported the target was cut by $10 billion amid a tech rout. Key numbers: About $20 billion sought. Desired valuation of $1.25 trillion, down from $1.4 billion per the FT. Funding target cut by $10 billion. Why it matters: The reported reduction in the funding target comes as the tech sector sells off, signaling pressure on OpenAI's fundraising plans. Coverage: 6 outlets in 24h

OpenAI is seeking about $20 billion in funding at a desired valuation of $1.25 trillion, according to the FT, which reported the target was cut by $10 billion amid a tech rout.

The reported reduction in the funding target comes as the tech sector sells off, signaling pressure on OpenAI's fundraising plans.