OpenAI now seeks to raise up to $30 billion, rather than $40 billion, from institutional investors and sovereign funds. The company lowered its pre-money valuation target from $1.4 trillion to $1.25 trillion after disappointing responses from Morgan Stanley’s wealthy clients and other potential investors. The round, which is due to be finalized on October 30, serves as interim funding ahead of a possible initial public offering in early 2027. Demand has been constrained by the decline in US technology stocks, the collective loss of about $2 trillion in chipmakers’ market value in October 2026, and investors waiting to see how Anthropic’s listing performs.
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