OpenAI slashes funding target to $20B amid tepid investor response

openai has lowered its funding target for a new round from $30 billion to $20 billion, with a first close expected to be even lower. the round is led by investors from the united arab emirates. openai has secured $11 billion so far, but its fundraising efforts have met with a tepid response from some large investors. this development affects openai's valuation and planned ipo. the funding challenges may be attributed to bad timing, as wall street investors have become wary of heavy ai infrastructure spending.