OpenAI trims funding target by $10 billion amid AI selloff

OpenAI has reportedly cut its fundraising target by $10 billion and is now seeking about $20 billion at a $1.25 trillion valuation, down from $30 billion at $1.4 trillion last month. An AI stock selloff and rival Anthropic's upcoming listing have complicated talks, with some investors scaling back commitments. UAE state-backed MGX is expected to be the largest participant.