OpenAI trims funding round to $20B as major investors pull back: Report

The AI company is seeking fresh capital at a $1.25 trillion valuation after reducing its funding target, with MGX expected to lead the latest round. OpenAI has reduced the size of its latest funding round after some of its major backers signaled they would invest less than in previous financings. The company had initially targeted as much as $30 billion at a valuation of up to $1.5 trillion in September, but has since cut its fundraising target by at least one-third and is now seeking capital at a $1.25 trillion valuation, DealBook reported. An investor group from the United Arab Emirates, including MGX, is expected to provide the largest commitment, with an investment in the single-digit billions.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Briefing.