Business & Finance
OpenAI reportedly cuts funding round target to $20 billion
The Financial Times reports investors from the United Arab Emirates will lead the round, which remains open.
The short version
- OpenAI is reportedly seeking up to $20 billion in a new round, down from a previously reported $30 billion target.[TechCrunch · CNBC]
- The Financial Times reports the round will be led by investors from the United Arab Emirates, while the Wall Street Journal reports $11 billion secured so far amid a tepid response from some large investors.[TechCrunch]
- A person familiar with the deal says the round has not closed and figures are subject to change, leaving the final size unknown.[CNBC]
Key facts
- OpenAI lowered its funding round target to $20 billion from a previously reported $30 billion.[TechCrunch · CNBC]
- The Financial Times reported the round will be led by investors from the United Arab Emirates.[TechCrunch]
- The Wall Street Journal reported OpenAI has secured $11 billion so far and met a tepid response from some large investors.[TechCrunch]
- A person familiar with the deal said the round has not closed and figures are subject to change.[CNBC]
What remains uncertain
- The final round size and closing terms are unknown because the round has not closed.[CNBC]
- Investor roles and the possible retail offering rest on Financial Times and Wall Street Journal reporting that is not independently confirmed here.[TechCrunch]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.