[FLASH] OpenAI cuts funding round target to up to $20B at a reported $1.25T post-money valuation
The FT first reported the cut, and CNBC confirmed it through its own source on Oct 31: OpenAI is now seeking up to $20B, down from as much as $30B, at a reported $1.25T post-money valuation. Separate WSJ reporting, relayed by Investing.com, put commitments at about $11B after a Friday deadline, with family offices and wealthy individuals to be approached next. The round has not closed. It is a direct read on private-market appetite for AI amid last week's tech selloff and ahead of Anthropic's reported mid-November listing. Open questions: the final close size, the UAE/Coatue-led allocations, and whether the retail tranche fills.