OpenAI trims its funding round target to up to $20 billion amid tech selloff
CNBC confirmed that OpenAI now seeks up to $20 billion, down from about $30 billion; the Financial Times reported a $1.25 trillion post-money valuation. The round is still open.
OpenAI is now seeking to raise up to $20 billion in its current funding round, down from an earlier target of up to about $30 billion, CNBC confirmed on Saturday, 31 October 2026. The Financial Times first reported the cut.
What is known
- According to the FT, the round values OpenAI at $1.25 trillion post-money.
- The FT said OpenAI had set a Friday deadline for investors to commit, and that some investors reduced their allocations.
- A person familiar with the deal told CNBC that the round has not closed and the figures could still change.
Context
The smaller target comes during a broad technology-stock selloff and growing investor scrutiny of how much companies are spending on AI infrastructure and how quickly that spending pays off.
OpenAI’s numbers here come from media reports citing unnamed sources; the company had not announced final terms at the time of writing.
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