OpenAI Said to Cut Funding Round Target to $20 Billion
The round is expected to be led by investors from the United Arab Emirates, with a first close likely below the $20 billion target.
OpenAI has lowered the target for its latest funding round to $20 billion, the Financial Times reported on October 30, 2026. The round is expected to be led by a group of investors from the United Arab Emirates, according to the report.
The first close of the round is expected to come in below the $20 billion target, the Financial Times said. A later retail offering to wealthy individuals could bring the total to $20 billion.
The Wall Street Journal reported separately that OpenAI has secured $11 billion so far, and that some large investors responded tepidly to the fundraising. TechCrunch contacted OpenAI for comment.
Valuation expectations trimmed
Before the current round, OpenAI had been reported to be raising $30 billion at a $1.4 trillion valuation ahead of a planned IPO. It was later reported to be raising at a $1.25 trillion valuation.
Wall Street investors have grown wary of heavy spending on AI infrastructure, a shift that has contributed to a major sell-off of tech stocks. The reports did not address the impact of that climate on Anthropic's planned IPO.
Quick answers
How much has OpenAI raised so far?
The Wall Street Journal reported that OpenAI has secured $11 billion so far.
Who is expected to lead OpenAI's latest funding round?
A group of investors from the United Arab Emirates is expected to lead the round, according to the Financial Times.
What is the new target for OpenAI's funding round?
The target has been lowered to $20 billion, with a first close expected below that figure.