OpenAI · Wall Street · Ethereum · CoinDesk
OpenAI reportedly cuts fundraising and valuation targets amid AI jitters
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OpenAI has slashed its target capital raise and valuation amid the steep AI-related stock selloff of the past few weeks, the FT reported late Friday evening.
Key facts
- The company, which had previously put off IPO plans until 2027, had been seeking to raise $30 billion at a $1.4 trillion valuation, but is now looking to raise about $20 billion at a $1.25 trillion
- OpenAI has slashed its target capital raise and valuation amid the steep AI-related stock selloff of the past few weeks, the FT reported late Friday evening
Summary
The company, which had previously put off IPO plans until 2027, had been seeking to raise $30 billion at a $1.4 trillion valuation, but is now looking to raise about $20 billion at a $1.25 trillion valuation, according to the story. 1 Experts divided over Binance hack asset freezes, warn recovery is another matter 5 hours ago. 2 Binance uncovers wider breach in $6.3 billion exploit, targets Sunday withdrawal restart 8 hours ago. 3 Wall Street analysts urge investors to buy crypto stocks after $6.3 billion Binance hack 10 hours ago.