OpenAI cuts funding target by $10 billion amid AI spending scrutiny

OpenAI has reduced its target for the latest funding round from $30 billion to $20 billion, with the valuation adjusted down from $1.4 trillion to $1.25 trillion. As of Friday's deadline, the company secured investment commitments of approximately $11 billion, less than half of the original target. The fundraising reduction coincides with a broader market reassessment of AI spending, following weak earnings from major tech firms and a competitive IPO environment.