OpenAI reportedly lowers funding target for new round

OpenAI has lowered its funding target for its latest round to $20 billion, down from earlier reports of $30 billion at a $1.4 trillion valuation and then a $1.25 trillion valuation, according to The Financial Times. The round will be led by a group of investors from the United Arab Emirates, with a subsequent retail offering for wealthy individuals potentially bringing the total to $20 billion. The Wall Street Journal reported that OpenAI has secured $11 billion so far and that fundraising met a "tepid" response from some large investors.