OpenAI Lowers Fundraising Target–After Decreasing Possible Valuation

OpenAI has lowered the amount of capital it is seeking from investors in its latest fundraising round by $10 billion, according to a Friday report by The Financial Times.

The company was initially seeking to raise $30 billion at a $1.4 trillion valuation. It lowered the valuation last week to $1.25 trillion, The Information and others reported, and is now reducing the target for the raise to $20 billion.

New York-based investment firm Coatue Management and investors from the United Arab Emirates were in talks to lead the round.

The lowered targets prompt questions about the level of interest in the fundraising talks.

An OpenAI spokesperson declined to comment.