OpenAI reportedly cuts fundraising target amid AI jitters

OpenAI has reportedly reduced its fundraising target as investor concerns emerge around the artificial intelligence sector, according to CoinDesk. The report did not provide further details in the available material on the size of the revised target, the timing of the fundraising process or the investors involved.

OpenAI is the artificial intelligence company behind ChatGPT, a widely used generative AI chatbot. Fundraising activity around major AI developers is closely watched because building and operating advanced AI systems can require substantial computing infrastructure, research spending and access to specialized hardware.

The reported change comes amid broader uncertainty over how quickly AI companies can turn rapid product adoption and technological advances into durable businesses. Investors are also assessing competition across the sector, the costs of AI infrastructure and evolving policy debates around the development and deployment of powerful AI systems.

CoinDesk characterized the reported fundraising adjustment as occurring amid AI jitters. OpenAI has not been quoted in the available material, and no additional terms of the reported fundraising change were disclosed.