OpenAI's latest funding target shrinks by $10 billion, plans to raise $20 billion at a valuation of about $1.25 trillion
According to the Financial Times, OpenAI has lowered its latest funding round target from $30 billion by about $10 billion and is now seeking to raise about $20 billion at a valuation of about $1.25 trillion. The company previously planned to raise $30 billion at a valuation of $1.4 trillion and positioned the round as the "last chance" for investors to buy in before next year's IPO. People familiar with the matter said that because some investors reduced their subscription amounts, the first closing amount may be less than $20 billion; a consortium led by MGX is expected to be the largest contributor, while Sequoia Capital, Founders Fund, Coatue, Andreessen Horowitz and SoftBank also plan to participate.
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The funding target has been lowered from $30 billion to about $20 billion, which readers can use to observe changes in AI capital expenditure expectations and pre-IPO market sentiment.
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AI boom cooling? OpenAI's latest funding target said to shrink by $10 billion, a 33% drop
2026-10-31 14:54 IT Home - Guyuan
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IT Home, October 31: The Financial Times (FT) today (October 31) published a blog post reporting that ChatGPT developer OpenAI has lowered its latest funding round target, cutting its original $30 billion (IT Home note: about 200.087 billion yuan at current exchange rates) goal by about $10 billion (about 66.696 billion yuan at current exchange rates), and is now seeking to raise about $20 billion (about 133.391 billion yuan at current exchange rates) at a valuation of about $1.25 trillion (about 8.34 trillion yuan at current exchange rates).
The report noted that the company had planned to raise $30 billion (about 200.087 billion yuan at current exchange rates) at a valuation of $1.4 trillion (about 9.34 trillion yuan at current exchange rates), positioning the round as investors' "last chance" to buy in before next year's IPO.
However, amid a sharp pullback in tech stocks and growing market concerns over massive AI capital expenditure, the tech-heavy Nasdaq 100 index fell 3.5% this Friday, as investors began to reassess the payback period and sustainability of AI infrastructure investment.
People familiar with the matter said OpenAI set a Friday deadline for investors to commit funds, but because some investors lowered their subscription amounts, the first closing amount may be less than $20 billion (about 133.391 billion yuan at current exchange rates).
An investment consortium led by the UAE state-backed technology fund MGX is expected to be the largest contributor; as part of the deal, OpenAI may also have the option to lease newly built computing capacity in the UAE. Sequoia Capital, Founders Fund, Coatue, Andreessen Horowitz and SoftBank are also planning to participate.
OpenAI's fundraising pace is also being affected by competitor Anthropic. The latter is expected to go public next month at a valuation that could reach $1.5 trillion (about 10 trillion yuan at current exchange rates) or more, and is attracting a large amount of investor capital and market attention.
Despite the reduced funding target, OpenAI's capital needs remain enormous. The company had already raised $122 billion (about 813.687 billion yuan at current exchange rates) in March this year, but plans to invest several times that amount in the computing power needed for model training and operation.