OpenAI raises about $11 billion of a $30 billion target

OpenAI raises just $11 billion of its $30 billion target as big investors lose their AI appetite

OpenAI's latest funding round has brought in about $11 billion, less than half of its $30 billion goal, according to The Wall Street Journal. The round is valued at $1.25 trillion, below the $1.4 trillion target. The report attributes the shortfall to weaker interest from major investors and a tech selloff after soft quarterly results from Google, Amazon and Intel.

Why it matters: OpenAI missed its funding target and is turning to family offices and wealthy individuals as major investors pull back.