OpenAI cuts its round as the AI trade turns [Oct 31 2026]
The money tightened around the AI build-out on Friday. The Financial Times reported, via Reuters, that OpenAI has cut the target for its latest funding round by $10 billion and is now seeking about $20 billion at a valuation of $1.25 trillion, with the first close expected to raise less than $20 billion after investors reduced allocations. TechCrunch reported that Blackstone, the anchor investor in the $63 billion deal financing Anthropic's chips, now tells investors it expects Anthropic to receive a double-B junk rating after its IPO, having previously said it would be investment grade…
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