OpenAI lowered the target of the latest round of financing by 10 billion US dollars, and is in the process of finalizing this financing. The AI sector in the open market was sold off, and Anthropic, the number one competitor, is about to go public, putting pressure on the financing process. The ChatGPT developer originally planned to raise 30 billion US dollars last month, with a valuation of 1.4 trillion US dollars, saying this is the last chance for investors to take stock before its IPO next year. OpenAI claims that revenue has grown rapidly since July to support a near doubling of the valuation from US$852 billion. Several people familiar with the matter revealed that OpenAI is currently planning to raise about 20 billion US dollars, with a valuation of 1.25 trillion US dollars. The company sets a deadline and requires investors to complete their investment commitments by Friday. According to people familiar with the matter, some investors have reduced the subscription amount for this financing, and it is estimated that less than 20 billion US dollars will be funded in this round of “initial settlement”. People familiar with the matter added that a consortium composed of various UAE investment institutions will be the biggest investors in this round. As part of the deal, OpenAI will get the option to lease new computing power resources in the region. People familiar with the matter said that venture capital institutions such as Founders Fund, Coatue, Sequoia Capital, Andreessen Horowitz, and Sun Zhengyi's SoftBank are also planning to participate in this round of financing. A person familiar with the matter said that retail sales will also be launched for wealthy individual investors in the future. Investors can invest in shares at a valuation of 1.25 trillion US dollars, which is expected to push the total amount of this round of financing to around 20 billion US dollars.

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