OpenAI reportedly cuts its funding target as tech markets retreat
OpenAI reduced the target for its latest funding round to about $20 billion as investors reassessed the cost and returns of the AI buildout, Reuters reported citing the Financial Times.
By TomorrowNews · AI-assisted briefing · Briefing published 31 October 2026
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The Financial Times report said some investors reduced allocations and OpenAI lowered its desired valuation to about $1.25 trillion. Reuters said OpenAI and several prospective investors did not immediately respond to requests for comment outside business hours.
The report arrived after the Nasdaq fell 2.9% on Friday and moved 7.8% below its October 6 record. OpenAI is also pursuing a possible 2027 listing, according to earlier Reuters reporting.
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This is an original summary, not a republication of the full report.
