OpenAI reportedly lowers funding target for new round
OpenAI’s latest funding round doesn't seem to be living up to expectations.
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OpenAI has lowered its funding target for its latest funding round from $30 billion to $20 billion, according to multiple news reports. The company has secured $11 billion so far, with a first close expected to be even lower, and the round will be led by investors from the United Arab Emirates. The funding challenges appear tied to investor caution about heavy AI infrastructure spending and a major sell-off of tech stocks, resulting in a tepid response from some large investors.
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