OpenAI’s latest fundraising efforts have fallen short of initial projections, according to several recent reports.
Previously, the company was aiming to raise $30 billion at a valuation of $1.4 trillion, later adjusting expectations to $30 billion at a $1.25 trillion valuation ahead of a planned IPO. However, The Financial Times reported on Friday that the company has since reduced its target to $20 billion, with an initial close expected to be even lower.
The FT indicated that a consortium of investors from the United Arab Emirates is leading the round, and a subsequent retail offering for wealthy individuals might help reach the $20 billion goal.
A follow-up report in The Wall Street Journal provided additional context, revealing that the firm has already secured $11 billion, although its solicitation has garnered a "tepid" reception from some major investors.
TechCrunch has reached out to OpenAI for a response. The company’s reported difficulties may be attributed to unfavorable timing, as Wall Street investors have grown cautious regarding heavy spending on AI infrastructure, resulting in a significant sell-off in the technology sector.
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