OpenAI Slashes Fundraising Target by $10B, Valuation Down $150B
OpenAI cut its funding round target from $30B to $20B and valuation from $1.4T to $1.25T amid a tech stock selloff, with Anthropic also reportedly not investment grade.
What we know
An account on X broke the news that OpenAI slashed its fundraising target by $10B and valuation by $150B per the FT, now seeking $20B at $1.25T. Another account on X quipped 'OpenAI hasn't even IPO'd yet and it's already nuking' as pre-IPO perpetuals slid. Another account on X RT'd a French-language thread describing a 'cataclysmic session on Wall Street for AI,' also noting that Anthropic may not be investment grade. This comes alongside a broader hedge fund de-grossing of 8%+ since June, the largest since 2017 per Morgan Stanley, flagged by another account on X as a potential bottom indicator.
How the story developed
OpenAI cut its funding round target from $30B to $20B and valuation from $1.4T to $1.25T amid a tech stock selloff, with Anthropic also reportedly not investment grade.
Japan is asking Anthropic and OpenAI for more access to advanced AI models and plans to include stronger US AI developer cooperation in a national cybersecurity package expected as early as next week.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.