OpenAI wanted to raise $30 billion, but the target may be cut to $20 billion

In September, OpenAI was seeking $30 billion from investors at a $1.4 trillion valuation. A month later, the target has reportedly shrunk by a third. On Friday, October 30, the Financial Times reported that the maker of ChatGPT was now aiming for only $20 billion. According to the newspaper, the first funding round could even raise less than that.

The Wall Street Journal adds a figure: OpenAI has reportedly secured only $11 billion so far, after a “lukewarm” reception from some major investors. The information was picked up on October 31 by TechCrunch, which says it asked OpenAI for comment and received no published response. The company has not confirmed any of these amounts.

Who is putting up the money?

Also according to the Financial Times, a group of investors from the United Arab Emirates is set to lead the round. A later offering, reserved for wealthy individuals, would bring the total to $20 billion. On valuation, the figures are shifting. In October, the press was still reporting a $30 billion raise at a $1.25 trillion valuation, already lower than the $1.4 trillion of September. None of the articles says whether that valuation still holds with the reduced target.

This funding round is meant to precede an IPO, for which OpenAI has not given a date.

Why investors are holding back

TechCrunch offers an explanation: the timing is poor. On Wall Street, investors are increasingly wary of the massive spending on AI data centers. That concern has fueled a sharp drop in tech stocks: Google has just had its worst trading session since 2004. The outlet also mentions Anthropic, which is preparing its own IPO and could also face difficulties on the markets.

For a European IT manager, this is far from trivial. The prices, quotas and lifespan of AI services depend on their providers' ability to finance their infrastructure. OpenAI has just revised the quotas for ChatGPT and Codex. A harder fundraise does not threaten the company in the short term, but it is a reminder that it is wise not to depend on a single vendor.

What to watch

The coming weeks will show whether this funding round closes, at what amount and at what valuation. An official confirmation from OpenAI would finally allow us to move beyond the figures reported by the press.

Update of November 14, 2026

OpenAI has received the first tranche of its funding round. According to Bloomberg, cited by Nairametrics, the maker of ChatGPT received about $11 billion on Friday, November 6. This first close is based on a valuation of $1.25 trillion, well below the $1.4 trillion targeted in September, when OpenAI was seeking to raise at least $30 billion. Coatue Management and T. Rowe Price are among the investors in this tranche. A group of investors from the United Arab Emirates is also taking part in the deal.

The round is not yet complete. It could reach $20 billion, and the remaining commitments are expected in the coming weeks, according to a source cited by Bloomberg. According to Reuters, OpenAI was keen to close this round before the IPO of Anthropic, the maker of Claude, which was then announced as imminent, because the two companies are courting the same investors. OpenAI has not issued any statement on these amounts.