BREAKING: OpenAI has slashed its funding target by -$10 billion and its valuation by -$150 billion amid this week's technology stock selloff, per FT. OpenAI is now seeking to raise $20 billion at a $1.25 trillion valuation, down from $30 billion at a $1.4 trillion valuation. The company set a deadline of today for investors to commit to the funding round. That "first close" is now expected to bring in less than $20 billion, after some of its investors lowered their allocations to the round. This comes just weeks before the expected Anthropic IPO.