OpenAI slashes funding target by US$10 billion amid tech rout: FT
Saturday, October 31, 2026 · first reported by The Business Times and 2 others
OpenAI has cut its latest funding round target by $10 billion to about $20 billion, with a desired valuation of $1.25 trillion, according to the FT. A UAE investor consortium including MGX is expected to be the largest participant, with Founders Fund, Coatue, Sequoia and Andreessen Horowitz also expected to take part.
The summary and fields above are extracted from the published reports and can contain errors. The linked articles are the source of record.
See an error?
Coverage
3 sources- Reed Jobs’s Yosemite raises $350 million second fund to make cancer non-lethalFortune
- Israel’s Clalit, Schneider children’s hospital launch $50M venture fund for pediatric healtheJewishPhilanthropy
- The ex-Secret Service agent who flipped a hacker is now raising a second $250M cybersecurity fundTechCrunch
- Oman’s Phaze Ventures gathers $40m toward $75m AI fund platformPEI Private Equity
- Flashpoint closes $116M fourth venture growth fund for European, Israeli AIDealroom +1
- Investment firm Denmu closes oversubscribed debut fund, surpassing $50 million targetgamesindustry.biz +1
Got news? Send it to us →