OpenAI slashes valuation target to $1.25T, raises $30B
openai lowers valuation target to $1.25 trillion and raises up to $30 billion in funding, led by uae investors and coatue, ahead of a potential ipo.
openai is closing in on a new funding round of up to $30 billion, led by uae investors and investment firm coatue. the company has lowered its valuation target to $1.25 trillion, down from the originally pitched $1.4 trillion, due to weaker demand and investor fatigue. openai confidentially filed an ipo prospectus with the sec in june and is negotiating a commercial deal to secure additional compute capacity through the uae. the company aims to go public by 2027, but ceo sam altman expressed concerns about the timing in september.