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OpenAI reportedly cuts funding target to $20B

Original title: OpenAI reportedly lowers funding target for new round

Plain language

What it is: OpenAI has reportedly lowered its target for its latest funding round to 20 billion dollars. The company was previously aiming to raise 30 billion dollars ahead of its planned initial public offering.
How it works: The funding round will be led by investors from the United Arab Emirates. OpenAI has secured 11 billion dollars so far, and may use a retail offering for wealthy individuals to help reach its final target.
Where it is available: This applies to OpenAI's corporate fundraising efforts and its upcoming financial planning.
Example: Not stated in the source

What it is: OpenAI has reportedly reduced its fundraising target to 20 billion dollars for its current pre-IPO funding round. This is a decrease from the previously reported target of 30 billion dollars.
How it works: The company has secured 11 billion dollars so far, facing a tepid response from some large investors due to market caution regarding AI infrastructure spending. The round is expected to be led by United Arab Emirates investors, with potential additional funding from wealthy retail investors.
Where it is available: This applies to OpenAI's latest investment round and its valuation ahead of a planned IPO.
Example: Not stated in the source

The headline and explanation on this page are based on TechCrunch's post. The full details are in the original.

OpenAI reportedly lowers funding target for new round