FundingOpenAI cuts its fundraising target from $30B to $20B with $11B committed, as Anthropic plans to list next month

OpenAI lowered its new funding target from $30 billion to $20 billion, the Financial Times reported, and cut its target valuation from $1.4 trillion to $1.25 trillion. About $11 billion has been committed so far, according to The Wall Street Journal.

The first close was set for Oct. 31, but the round is still open, and OpenAI plans to raise more from family offices and wealthy individuals over the next few weeks. Some investors reportedly scaled back after the tech selloff. Rival Anthropic plans to go public next month, which could sharpen the competition for investors.