OpenAI Slashes Funding Target by $10B
OpenAI has cut its fundraising round from $30B to $20B and its valuation from $1.4T to $1.25T amid AI sector anxieties and investor pullback, with Abu Dhabi reportedly passing on its commitment. The initial close is expected to fall short even of the new $20B target.
What we know
The Financial Times broke the story and it became the single most-engaged item across all sources this hour. An account on X first flagged the headline (386 likes, 50K views), with another account on X calling it a 'house of cards falling apart' and interpreting the cut as Abu Dhabi backing out of a $30B commitment (549 likes, 60K views). Another account on X added that some existing investors also reduced commitments amid the broader AI stock selloff, and the initial close is expected to fall short of even the revised $20B figure. Several accounts on X amplified the original report. Separately, another account on X mocked the situation by 'launching a market' on OpenAI's $800B in unfunded obligations.
Sources
“OpenAI slashes funding target by $10bn as tech anxieties mount”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.