OpenAI Cuts Its Funding Target by $10 Billion to $20 Billion
OpenAI has cut the target for its latest funding round by $10 billion. It is now trying to raise $20 billion at a $1.25 trillion valuation, according to the Financial Times. A valuation is the total worth investors put on a company. The report is from the Financial Times.
Quick glossaryOpenAI, funding round, valuation
- OpenAI
- An AI company based in San Francisco, best known for its ChatGPT chatbot and its AI models.
- funding round
- A stage where a company collects money from investors, often in exchange for shares of the business.
- valuation
- The total amount of money a company is considered to be worth, based on what investors are willing to pay.
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