OpenAI has raised less than half of its original $30 billion target for its latest round, WSJ reports
The Wall Street Journal reports the shortfall after the Financial Times said on 30 October that OpenAI had cut the round's target to $20 billion at a $1.25 trillion valuation; OpenAI has not commented on the figures.
Why it matters
The report is the clearest sign yet that private investors are pulling back from the largest AI raises as AI stocks sell off. OpenAI had said last month it was aiming for $30 billion at a $1.4 trillion valuation, according to the Financial Times, before cutting the target. The shortfall lands days after Anthropic filed to go public, and the WSJ reports OpenAI grew sales 18 percent to $6.7 billion between the first and second quarters while Anthropic doubled revenue. Watch whether OpenAI closes the round, and at what valuation.
Key facts
- WSJ: raised less than half of the $30 billion initially targeted
- FT, 30 October: target cut by $10 billion to $20 billion
- FT: valuation now $1.25 trillion, down from $1.4 trillion
- WSJ: OpenAI sales grew 18 percent to $6.7 billion from Q1 to Q2
- OpenAI has not commented on the figures