OpenAI Cuts Fundraising Target to $20B as Valuation Drops to $1.25TThe DecoderT2·Industry

OpenAI Raises $11B of $30B Target as Investor Appetite Fades

By Matthias BastianOriginal title: OpenAI raises just $11 billion of its $30 billion target as big investors lose their AI appetite

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OpenAI raised only $11 billion of its targeted $30 billion round, valuing the company at $1.25 trillion amid waning investor interest and a tech sell-off. The firm now plans to seek up to $20 billion from family offices ahead of a potential early next year IPO. Meanwhile, rival Anthropic shows stronger revenue growth and may go public sooner, intensifying capital competition among leading AI entities.

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

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  [Matthias Bastian](https://the-decoder.com/author/matthias-bastian/) [View the LinkedIn Profile of Matthias Bastian](https://www.linkedin.com/in/matthias-bastian-128b71b1/)   Oct 31, 2026

OpenAI raised less than half of its $30 billion fundraising target in its latest round. The company has secured about $11 billion so far, according to the Wall Street Journal. Its valuation landed at $1.25 trillion, short of the $1.4 trillion it was aiming for. The gap reportedly comes down to fading interest from major investors amid a tech sell-off driven by weak quarterly results from Google, Amazon, and Intel. OpenAI now plans to raise up to $20 billion from family offices and high-net-worth individuals. The company is reportedly planning an IPO early next year.

Rival Anthropic has been growing revenue faster lately and could go public as early as November. A strong IPO could leave Anthropic with well over $100 billion in capital to weather any rough stretch ahead. OpenAI has clawed back some market share recently, but the competition goes back and forth. OpenAI especially has been pushing hard with price cuts and more efficient models to hold its ground.

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