OpenAI reportedly cuts new funding round target to $20 billion
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OpenAI lowered its fundraising target to $20 billion after earlier reports of a $30 billion round at up to a $1.4 trillion valuation ahead of a planned IPO, the Financial Times reported Friday; the first close may fall below $20 billion. The Wall Street Journal said OpenAI has secured $11 billion so far and met a tepid response from some large investors. UAE-backed investors are expected to lead the round; a retail offering for wealthy individuals could lift the total toward $20 billion.
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