OpenAI cuts fundraising to $20B and trims valuation to $1.25T
Business
OpenAI is dialing back its fundraising plans, now aiming for $20 billion instead of $30 billion, and trimming its valuation target to $1.25 trillion from $1.4 trillion.
The move comes after AI stocks took a hit, like the Nasdaq-100 dropping 10% since early October, making it a tougher climate for tech giants to chase big numbers.
OpenAI delays IPO until 2027
With rival Anthropic gearing up to go public next month and targeting an even higher $1.5 trillion valuation, OpenAI is feeling the pressure.
They've decided to delay their own IPO until 2027, showing just how tricky it's become for AI companies to win over investors when the market's this unpredictable.