OpenAI Raises About $11 Billion of Its $30 Billion Target as Large Investors Pull Back
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OpenAI has secured about $11 billion in its latest round, less than half of its $30 billion goal, at a $1.25 trillion valuation below the $1.4 trillion it sought as major investors retreat amid a tech sell-off tied to weak quarterly results from Google, Amazon, and Intel. It plans to raise up to $20 billion from family offices and high-net-worth individuals and is reportedly targeting an IPO early next year. Rival Anthropic could go public as early as November; a strong listing might leave it with well over $100 billion in capital.
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