OpenAI Lowers Fundraising Target–After Decreasing Possible Valuation

What happened: OpenAI cut the amount of capital it is seeking in its latest fundraising round by $10 billion, according to a Financial Times report cited by The Information. Key numbers: Initial target was $30 billion at a $1.4 trillion valuation. The target was reduced by $10 billion. The valuation was lowered last week. Why it matters: The reduced target follows a cut to the company's possible valuation, signaling a smaller raise than originally planned.

OpenAI cut the amount of capital it is seeking in its latest fundraising round by $10 billion, according to a Financial Times report cited by The Information.

The reduced target follows a cut to the company's possible valuation, signaling a smaller raise than originally planned.