OpenAI funding round target cut by $10bn in selloff
People familiar with the matter say the ChatGPT maker is now seeking about $20 billion at a $1.25 trillion valuation after some investors trimmed their allocations.
OpenAI has cut the target for its latest raise by $10 billion and is now seeking about $20 billion, people familiar with the matter say.
Its desired valuation is now put at $1.25 trillion.
A UAE investor group that includes MGX is expected to be the largest participant, with an option for OpenAI to lease new computing capacity in the region.
Venture firms including Founders Fund, Coatue, Sequoia Capital and Andreessen Horowitz are also expected to join.
The Nasdaq fell 2.9% on Friday and was 7.8% below its 6 October closing high amid AI spending worries.