The OpenAI funding round, with UAE investors including MGX as the largest backers, comes with an option on Gulf data center capacity. Washington will set its limits.
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OpenAI Funding Target Cut by $10 Billion as AI Slumps, FT Says
Headline from Bloomberg ·
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OpenAI Cuts Round To $20 Billion As UAE Investors Pair Capital With Compute Capacity
FT: OpenAI cut its raise target to about $20B from $30B and valuation to $1.25T from $1.4T; SoftBank's stake reportedly shrank $10B as commitments fell due Oct. 30.
OpenAI has cut its fundraising target by $10 billion as an AI stock selloff and rival Anthropic PBC’s impending public listing complicate its efforts to secure investor commitments, the Financial Times reported.
The OpenAI funding round, with UAE investors including MGX as the largest backers, comes with an option on Gulf data center capacity. Washington will set its limits.
OpenAI has secured roughly $11 billion in investor commitments, far short of the $30 billion it initially sought, in another sign that Wall Street’s enthusiasm for artificial intelligence is facing a serious test.
OpenAI Cuts Round To $20 Billion As UAE Investors Pair Capital With Compute Capacity | Since Then
