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OpenAI reportedly lowers the target for its latest funding round

The Wall Street Journal reports, citing sources, that OpenAI has about $11 billion in commitments for its latest round. That is less than half of its first target of $30 billion. The round values OpenAI at $1.25 trillion, below the $1.4 trillion it had aimed for. The Financial Times reports that OpenAI now wants about $20 billion, after some investors cut their commitments during a sell-off in AI stocks. The WSJ says OpenAI expects to raise more in the coming weeks.

Why it matters: It suggests investors are more cautious about AI valuations. Nothing changes for ChatGPT users.
Reported by WSJ and FTTechmeme / WSJ