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OpenAI has cut the target for its current round to about $20 billion from $30 billion and now seeks a $1.25 trillion , down from the $1.4 trillion it floated earlier, the Financial Times reported late Friday after some investors trimmed their commitments during the AI selloff.
Investors faced a Friday deadline. The Wall Street Journal reported that about $11 billion is secured so far, and that OpenAI plans to raise the rest from and wealthy individuals through a later at the same price. A UAE consortium including the state fund is expected to be the largest participant, with Founders Fund, Coatue, Sequoia and Andreessen Horowitz also expected in.
OpenAI has already pushed its listing to 2027 and wanted this round closed before Anthropic's , which is courting the same buyers.
The Nasdaq 100 is down about 10% from its October 6th record. A round that shrinks by a third in the week of the deadline is the clearest sign yet that private money is pulling back alongside public markets. That is the test 2026-10-25-F1 sets. OpenAI did not comment.
OpenAI cuts its round to about $20 billion, with roughly $11 billion committed
OpenAI has cut the target for its current round to about $20 billion from $30 billion and now seeks a $1.25 trillion valuation, down from the $1.4 trillion it floated earlier, the Financial Times reported late Friday after some investors trimmed their commitments during the AI selloff. Investors faced a Friday deadline. The Wall Street Journal reported that about $11 billion is secured so far, and that OpenAI plans to raise the rest from family offices and wealthy individuals through a later tranche at the same price. A UAE consortium including the state fund MGX is expected to be the largest participant, with Founders Fund, Coatue, Sequoia and Andreessen Horowitz also expected in.
OpenAI has already pushed its listing to 2027 and wanted this round closed before Anthropic's IPO, which is courting the same buyers. The Nasdaq 100 is down about 10% from its October 6th record. A round that shrinks by a third in the week of the deadline is the clearest sign yet that private money is pulling back alongside public markets. That is the test 2026-10-25-F1 sets. OpenAI did not comment. SourcesBBC
Sources
- BOpenAI reportedly cuts fundraising target amid AI jitters (CoinDesk)coindesk.com
- BOpenAI slashes funding target by $10 billion amid tech rout, FT reports (Reuters via Central Oregon Daily)centraloregondaily.com
- COpenAI raises just $11 billion of its $30 billion target (The Decoder)the-decoder.com
This story ran in the Morning Brief of October 31st 2026.