OpenAI Round: Valuation drops to 1.25 trillion dollars, target drops significantly - ad-hoc-news.de
Article excerpt
OpenAI has significantly reduced the target for its ongoing capital raise. The AI company is now targeting a volume of 20 billion US dollars for its current financing round. This represents a cut of 10 billion US dollars or a decrease of around 33 percent compared to the plan to raise up to 30 billion US dollars. The round is being negotiated at a valuation of 1.25 trillion US dollars, which is 150 billion US dollars below the previous valuation target of 1.4 trillion US dollars. After reports of negotiations for a volume of 30 billion US dollars at a valuation of 1.4 trillion US dollars were still circulating on October 19, the reduced target was announced on Friday, October 30. The official deadline for commitments from interested investors also ended on that day. Market observers assume that the first interim closing of the round could even be below the 20 billion US dollar mark, as several investors reduced their previously announced allocations. OpenAI declined to comment on the events. The main reasons for the shrinking volume are considered to be growing concerns in the market environment about the immense capital expenditures of AI developers and a direct battle for venture capital allocation. According to reports, competitor Anthropic is preparing an IPO for mid-November, planning to raise up to 100 billion US dollars at a corporate valuation of 1.5 billion US...
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In the period from July to September, quarterly revenue amounted to around 8.7 billion euros.
