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OpenAI reportedly lowers funding target for new round
TechCrunch • • general
Key Points:
- OpenAI has reduced its latest funding target from $30 billion to $20 billion, with the initial close expected to be even lower, according to The Financial Times.
- The funding round is being led by investors from the United Arab Emirates, with a potential retail offering aimed at wealthy individuals to reach the $20 billion goal.
- The Wall Street Journal reports that OpenAI has secured $11 billion so far, but some large investors have shown a "tepid" response to the fundraising efforts.
- This adjustment in funding targets comes ahead of OpenAI's planned initial public offering (IPO).
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