OpenAI said to cut valuation target to $1.25T

 OpenAI has lowered its valuation target for its latest funding round, after pitching a $1.4 trillion price tag to investors earlier this month, as it seeks to raise $30 billion before going public, the Financial Times reported, citing people familiar with the matter and documents it's seen.

The company is in the final stages of a deal that will value it at $1.25 trillion, the report said, noting that this would be an almost 50% increase from its current $852 billion valuation. The figure would be lower than the pre-money valuation of $1.4 trillion that Morgan Stanley and tech fund Dragoneer floated to the bank's private wealth clients, the report added.

"There has been zero clamouring," one of the people with knowledge of the Morgan Stanley-led process told the newspaper. "All the prior times [OpenAI] have been on there's been a frenzy. This time is a bit of a thud," the person added.

https://breakingthenews.net/Article/OpenAI-said-to-cut-valuation-target-to-dollar1.25T/67382355