OpenAI has reportedly scaled back its fundraising target to $20 billion, down from earlier targets of $30 billion, with an expected $11 billion already secured amid tepid interest from some large investors. The company now expects a UAE-led investor group to head the round, with a subsequent retail offering for wealthy individuals helping reach the new target. The challenges stem partly from Wall Street wariness around heavy AI infrastructure spending and broader tech stock sell-offs.
Background
OpenAI has been preparing for a potential IPO and multiple rounds of fundraising at increasingly ambitious valuations. The broader tech sector has seen volatility due to investor concerns about the sustainability of heavy AI infrastructure spending and its ROI.
- Source
- TechCrunch
- Published
- Nov 1, 2026 at 12:12 AM
- Score
- 7.0 / 10