OpenAI reportedly lowers funding target for new round | TechCrunch

The short version

OpenAI has reduced its funding target from $30 billion to $20 billion due to lackluster investor interest.

Key takeaways

• Funding target lowered from $30 billion to $20 billion.
• Initial close expected to be lower than $20 billion.
• OpenAI has secured $11 billion so far.
• Investor response has been described as tepid.

Overall sentiment

The sentiment is negative due to OpenAI's struggle to meet its funding expectations.

AI classification of the article’s tone. Coverage is limited to the funding round developments and investor sentiment.

Sources cited by the article

• The Financial Times reported Friday ↗
• follow-up story in The Wall Street Journal ↗
• Wall Street investors have become wary of heavy AI infrastructure spending ↗
• facing challenges ↗
• raising $30 billion at a $1.4 trillion valuation ↗
• at a $1.25 trillion valuation ↗
• Anthony Ha ↗
• OpenAI ↗
• Venture ↗
• Fundraising ↗
• AI ↗
• Terms ↗
• Media & Entertainment ↗
• Last-minute Halloween costumes for tech nerds ↗
• Amanda Silberling ↗
• Mistral releases weights for its trillion-parameter AI model, targeting cybersecurity ↗
• Lucas Ropek ↗
• Nvidia weighs playing the cosigner for Nscale’s AI data center in West Virginia ↗
• Aditya Mehta ↗
• Ollie, a privacy-focused AI assistant, is shutting down ↗

These references were linked or listed by the publisher, then selected for relevance. They are distinct from our original-source citation.