OpenAI Cuts Funding Target

San FranciscoOpenAI reportedly now seeks $20 billion, not $30 billion.

Its target valuation fell from $1.4 trillion to $1.25 trillion during a weeks-long AI stock selloff.

OpenAI also competes for capital with Anthropic, which reportedly aims to raise up to $100 billion at a $1.5 trillion valuation.

Anthropic plans to go public in November, and OpenAI had already put off its own public listing to 2027.

Sources: CoinDesk