OpenAI cuts fundraising target to 20 billion dollars

OpenAI has cut the target for its current funding round from 30 billion dollars to 20 billion dollars at a 1.25 trillion dollar post-money valuation, with the Wall Street Journal reporting 11 billion dollars secured so far and a tepid response from some large investors.

Why it matters: The round is the largest private financing in the AI buildout, and a lower target in the week chip stocks sold off on AI spending doubts is a direct read on investor appetite for the valuations the buildout rests on.

Data as of CNBC report of October 31, 2026, read in full in this run, confirming the 20 billion dollar figure and citing the Financial Times for the cut and the valuation; TechCrunch report of October 31, 2026, read in full in this run, carrying the Wall Street Journal figure of 11 billion dollars secured. The round has not closed and the figures are subject to change. OpenAI did not immediately respond to CNBC's request for comment. Developing item.

OpenAI is now seeking up to 20 billion dollars in its current funding round, down from an earlier target of 30 billion dollars, at a post-money valuation of 1.25 trillion dollars, CNBC reported on Saturday, confirming the Financial Times report of Friday that the target had been cut by 10 billion dollars and that some investors had reduced their allocations. The Wall Street Journal reported the company has secured 11 billion dollars so far and met a tepid response from some large investors, and TechCrunch reported a first close is expected below the 20 billion dollar target, with a later retail offering for wealthy individuals possibly bringing the total to the target. Investors from the United Arab Emirates are leading the round alongside Coatue, and the cut lands in the week AI-linked stocks sold off on doubts about returns on data centre spending.

OpenAI cuts fundraising target to 20 billion dollars

Sources