OpenAI cuts funding round to $20B at $1.25T as UAE funds lead and Anthropic’s IPO looms

Back in December 2015, a group of tech founders and investors pledged $1 billion to develop artificial intelligence for the benefit of humanity. Almost 11 years later, OpenAI is seeking up to $20 billion in funding, which is about a third less than its original $30 billion goal. On October 31, CNBC confirmed that OpenAI is seeking up to $20 billion. The funding round is still open, so the numbers could change, according to someone familiar with the deal. OpenAI has not replied to CNBC’s request for comment. The Financial Times first reported the reduction and said OpenAI gave investors until October 30 to commit, with some choosing to reduce their allocations. Reuters, citing the FT, reported that the first close is expected to bring in less than $20 billion.