OpenAI has lowered the amount of capital it is seeking from investors in its latest fundraising round by $10 billion, according to a Friday report by The Financial Times. The company was initially seeking to raise $30 billion at a $1.4 trillion valuation. It lowered the valuation last week to...
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OpenAI Reportedly Cuts Fundraising Target by $10 Billion
OpenAI has reduced its latest fundraising target by $10 billion, according to a Financial Times report cited by The Information. The company initially sought $30 billion at a $1.4 trillion valuation and reportedly lowered the proposed valuation before cutting the fundraising target. The supplied excerpt does not disclose the revised valuation.
The reported changes offer a concrete update on OpenAI’s financing plans, although the excerpt provides limited detail on the revised terms.
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