OpenAI raised only $11 billion in funding, far below its $30 billion target
OpenAI raises just $11 billion of its $30 billion target as big investors lose their AI appetite
OpenAI's latest funding round has so far raised only about $11 billion, less than half of its $30 billion target, according to The Wall Street Journal. Its valuation is set at $1.25 trillion, below the $1.4 trillion it had originally aimed for. The report said the funding shortfall stems from waning interest among large investors, against the backdrop of a tech stock selloff triggered by weak quarterly results from Google, Amazon and Intel. OpenAI now plans to raise up to $20 billion more from family offices and high-net-worth individuals, and is reportedly planning to launch an IPO early next year. Competitor Anthropic has recently grown revenue faster and could go public as early as November.
These below-target funding and valuation figures provide a reference point for observing recent changes in large investors' willingness to put money into AI.