OpenAI lowers target valuation for about $30 billion funding to $1.25 trillion
According to Bloomberg, OpenAI has lowered the target valuation for a funding round of about $30 billion to $1.25 trillion, $150 billion below the previous $1.4 trillion. Even after the cut, the valuation is still about 47% higher than the $852 billion (including newly injected funds) at the time of a $122 billion funding round in March. Coatue Management is in talks to co-lead the round, and OpenAI has also had contact with several UAE investment funds and BlackRock; the cut comes amid a tech stock selloff, with investors worried that AI spending has outpaced returns, after mixed earnings from Meta Platforms and Tesla.
According to Bloomberg, OpenAI has lowered the target valuation for a funding round of about $30 billion to $1.25 trillion, $150 billion below the previous $1.4 trillion. Even after the cut, the valuation is still about 47% higher than the $852 billion (including newly injected funds) at the time of a $122 billion funding round in March. Coatue Management is in talks to co-lead the round, and OpenAI has also had contact with several UAE investment funds and BlackRock; the cut comes amid a tech s
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