AI boom hits a wall on Wall Street as OpenAI cuts fundraising target while Meta gets a credit warning over its cash flow, spending and monetization

What happened: OpenAI cut its latest fundraising target to $20 billion from $30 billion, and S&P Global cut its outlook on Meta to "negative" from "stable," citing negative cash flow and uncertainty around capital expenditure plans. Key numbers: OpenAI's target fell to $20 billion from $30 billion, with expected valuation cut to $1.25 Why it matters: The moves came after a tech selloff and earnings reports that spooked investors over hyperscaler spending. S&P said Meta's ability to monetize AI investments is more limited than peers, while Meta said it disagrees with that assessment. Market: -1.4% today ($240.35), +6.1% YTD, 2.7x vol — as of 23:45 UTC Verified: Q3_2026 (Oct 29) EPS $1.89 vs $1.96 est, -3.5% miss; next print ~Jan 28 Coverage: 6 outlets in 24h

OpenAI's reduced fundraising target and Meta's credit warning signal AI spending concerns.

OpenAI's reduced fundraising target and Meta's credit warning signal AI spending concerns. — impact context not separately stored; see What changed.