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OpenAI Lowers Fundraising and Valuation Targets Amid Tech Selloff
OpenAI has reportedly lowered its fundraising target to $20 billion and its valuation target to $1.25 trillion. The adjustment represents a $10 billion reduction in its funding goal and a $150 billion cut to its valuation target. The decision comes amid investor concerns regarding AI sector volatility and increased competition from rival Anthropic. Additionally, technology stocks face mounting pressure, with the Nasdaq 100 falling 10% from its October peak.