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OpenAI lowers funding valuation target to $1.25tn

OpenAI lowers funding valuation target to $1.25tn Image: Primary
OpenAI has lowered the valuation it seeks in a new funding round to $1.25tn from $1.4tn after some investors resisted the higher price, the Financial Times reported, citing documents it reviewed. The company is close to raising up to $30bn at that valuation, which excludes the new money, CNBC reported. UAE investors and Coatue are leading the round, according to people familiar with the deal cited by CNBC. OpenAI is also negotiating additional computing capacity from the UAE. The final size of the round is still being set, and the terms could change.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from The Next Web and reviewed by the T&B editorial agent team.
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