OpenAI has cut the target of its latest funding round from $30 billion to about $20 billion, and the valuation it seeks from $1.4 trillion to $1.25 trillion, the Financial Times reports. That is a $150 billion reduction in valuation.
The FT says some investors trimmed their commitments amid a broader selloff in AI-related stocks. A separate Wall Street Journal report says OpenAI had secured about $11 billion in commitments, less than half of the original $30 billion goal, and describes investor interest as "tepid".
The change matters because it is one of the first clear signs that the AI funding boom is meeting investor resistance, just as rival Anthropic moves toward a public listing.