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OpenAI cuts its valuation target by $150bn to $1.25tn after investors push back on its $1.4tn price

OpenAI cuts its valuation target by $150bn to $1.25tn after investors push back on its $1.4tn price

OpenAI is now lining up a fresh $30bn funding round pegged at the lower $1.25tn figure. The cash is being raised ahead of a planned stock market listing. OpenAI had first pitched backers the higher price before investors resisted. The $150bn reduction is a sharp climbdown on the eve of one of the most closely watched flotations in the tech world.

The $30bn raise is reported to be nearing completion at the reduced valuation.

Backers balked at paying $1.4tn, forcing OpenAI to lower its asking price.

MoreThe TelegraphOpenAI slashes valuation by $150bnFinancial TimesOpenAI trims valuation target to $1.25tn after pitching higher priceYahoo FinanceOpenAI Just Cut Its Valuation Target by $150 BillionTimes NowOpenAI Cuts Valuation Target To $1.25 Trillion As Investors Push Back On $1.4 Trillion PriceTechCrunchOpenAI working on new $30B raise at $1.25T valuation ahead of IPO - TechCrunchInvesting.comOpenAI nears $30 billion funding round at $1.25 trillion valuation - Investing.com
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