Sources: OpenAI now seeks ~$20B at a $1.25T valuation for its latest round, from $30B at a $1.4T valuation, as some investors cut commitments amid an AI selloff
THE SO WHAT
A move from ~$30B to ~$20B on the raise and a trimmed valuation in the middle of an AI selloff is a reminder that even category leaders are not immune to capital-cycle gravity. If you’re budgeting against 2023-style AI multiples, recalibrate expectations on both fundraising pace and downstream enterprise pricing power.
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