OpenAI has reportedly lowered its fundraising target and is now seeking approximately $20 billion. The company is targeting a $1.25 trillion valuation.
A month earlier, OpenAI aimed to raise $30 billion. Its previous valuation target was $1.4 trillion.
The shift follows a lukewarm response from some investors and a broader selloff in publicly traded technology stocks. Investor anxiety about the high cost of AI infrastructure and the impending IPO of OpenAI’s main competitor, Anthropic, have also added uncertainty to the round. Some investors have reportedly reduced their commitments.