OpenAI slashes funding goal by $10B amid tech selloff: FT

[AI Assistant Apps - ChatGPT, Claude, Gemini] OpenAI (OPENAI [https://seekingalpha.com/symbol/OPENAI]) has cut the target for its newest funding round by $10B at a time when the U.S. tech stocks are in a selloff driven by concerns over AI infrastructure buildout, The Financial Times reported, citing people with knowledge of the matter. The ChatGPT maker is now looking for about $20B in funds at a valuation of roughly $1.25T, down from $1.4T it targeted last month, according to the report. While the company set a Friday deadline for investors to commit, the “first close” is expected to generate [https://www.ft.com/content/7a3ad950-1b3b-4d9e-8c15-65a61ae6180f?syn-25a6b1a6=1] ⁠less than $20B after some investors cut their allocations, it ​added.