IPO Newsroom(@IPONewsroom_):OPENAI HAS REPORTEDLY CUT THE TARGET FOR ITS LATEST FUNDING ROUND BY $10 BILLION It's now looking to raise $20 billion at a $1.25 trillion valuation, down from a plan to raise $30 billion, per the Financial Times And the first close may come in even lower. OpenAI set a Friday deadline for investors to commit, but the first close is expected to raise less than $20 billion after some investors reduced their allocations, according to the FT. OpenAI did not immediately respond to a request for comment. The report comes as tech stocks sold off on worries about massive AI spending. The Nasdaq Composite fell 2.9% today and is now 7.8% below its all-time closing high from October 6.

2026.10.31 01:19

OPENAI HAS REPORTEDLY CUT THE TARGET FOR ITS LATEST FUNDING ROUND BY $10 BILLION It's now looking to raise $20 billion at a $1.25 trillion valuation, down from a plan to raise $30 billion, per the Financial Times And the first close may come in even lower. OpenAI set a Friday deadline for investors to commit, but the first close is expected to raise less than $20 billion after some investors reduced their allocations, according to the FT. OpenAI did not immediately respond to a request for comment. The report comes as tech stocks sold off on worries about massive AI spending. The Nasdaq Composite fell 2.9% today and is now 7.8% below its all-time closing high from October 6.