OpenAI slashes funding target by US$10 billion amid tech rout: FT
Saturday, October 31, 2026 · first reported by The Business Times
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.
- Firm
- OpenAI
- Also named
- MGX
- Size
- $10B
- Stage
- First close
- Asset class
- Venture
- Geography
- North America, Middle East
The summary and fields above are extracted from the published reports and can contain errors. The linked articles are the source of record.
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