OpenAI funding target cut by $10 billion as AI slumps

SENSEX 74,459.53

+ 308.49

NIFTY 23,053.10

+ 116.35

CRUDEOIL 9,915.00

+ 206.00

GOLD 138,475.00

 -4,121.00

SILVER 178,944.00

 -10,509.00

SENSEX 74,459.53

+ 308.49

NIFTY 23,053.10

+ 116.35

NIFTY 23,053.10

+ 116.35

CRUDEOIL 9,915.00

+ 206.00

CRUDEOIL 9,915.00

+ 206.00

GOLD 138,475.00

 -4,121.00

'; } document.getElementById("lgdv").innerHTML = htmlElements; } function numberformat(i) { return Number(parseFloat(i).toFixed(2)).toLocaleString('en', { minimumFractionDigits: 2 }) } async function gatherResponse(response) { const { headers } = response; const contentType = headers.get('content-type') || ''; if (contentType.includes('application/json')) { return await response.json() } return response.text(); } function getWidth() { if (Math.max(document.body.scrollWidth,document.documentElement.scrollWidth,document.body.offsetWidth,document.documentElement.offsetWidth,document.documentElement.clientWidth) > 991) { document.getElementById("mob").style.display = "none"; document.getElementById("lgdv").style.display = "block"; } else { document.getElementById("mob").style.display = "block"; document.getElementById("lgdv").style.display = "none"; } } getWidth(); THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.

The ChatGPT maker is now seeking about $20 billion at a $1.25 trillion valuation, down from $30 billion at a $1.4 trillion valuation last month

By Bloomberg

Updated - October 31, 2026 at 01:04 PM.

OpenAI has cut its fundraising target by $10 billion as an AI stock selloff and rival Anthropic PBC’s impending public listing complicate its efforts to secure investor commitments. | Photo Credit: Dado Ruvic

OpenAI has cut its fundraising target by $10 billion as an AI stock selloff and rival Anthropic PBC’s impending public listing complicate its efforts to secure investor commitments, the Financial Times reported.

The ChatGPT maker is now seeking about $20 billion at a $1.25 trillion valuation, down from $30 billion at a $1.4 trillion valuation last month, the FT said, citing people with knowledge of the matter. 

Some investors have reduced their commitments to OpenAI’s funding round, according to the report. The scaled-back ambitions reflect growing investor unease over the enormous sums being poured into artificial intelligence. The Nasdaq 100 fell 3.5 per cent on Friday.

Bloomberg News reported last week that OpenAI was seeking to raise capital at a $1.25 trillion valuation during the final stages of negotiations.

A group of investors from the United Arab Emirates, including state-backed MGX, is expected to be the largest participant in the round, the FT said. SoftBank Group Corp. and venture capital firms including Sequoia Capital, Coatue Management, Founders Fund and Andreessen Horowitz also plan to participate, according to the report.

The fundraising effort faces additional competition from Anthropic, which is preparing to go public next month at a valuation of at least $1.5 trillion, the newspaper said. OpenAI, which raised $122 billion in March, is seeking fresh capital to finance its vast computing ambitions as it prepares for a potential IPO of its own next year, according to the report.

Published on October 31, 2026

THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.Sign into Unlock benefits!

• Access 10 free stories per month
• Get notified by email for early preview to new features, discounts & offers