OpenAI has reportedly secured approximately $11 billion in investor commitments for its latest funding round, falling short of its initial $30 billion target as investors reassess spending across the artificial intelligence sector. The ChatGPT maker has subsequently reduced its fundraising goal to approximately $20 billion, according to reports.
The Wall Street Journal reported that OpenAI had received limited interest from some major investors, prompting the company to revise its fundraising expectations. The financing reportedly values OpenAI at $1.25 trillion, compared with the $1.4 trillion valuation it had initially sought.
The funding round remains open, with the company expected to approach additional investors in the coming weeks. According to the report, OpenAI plans to seek commitments from family offices and high-net-worth individuals to increase the amount raised.
The revised target comes amid a broader decline in technology stocks, with investors examining the financial commitments required to develop and operate advanced AI systems. Spending on computing infrastructure, data centres and model development has increased across the sector, raising questions about the pace at which these investments can generate returns.
OpenAI's fundraising efforts also coincide with preparations for a potential public listing as early as 2027. The company has been seeking additional capital to support its infrastructure requirements and compete with other AI developers.
Competition from Anthropic has become an important consideration for OpenAI. Anthropic has reported rapid revenue growth, supported partly by demand for its Claude Code product among developers and enterprise customers.
According to figures cited in the report, Anthropic's quarterly revenue more than doubled to $11.6 billion between the first and second quarters of 2026. OpenAI's revenue increased by approximately 18% over the same period to $6.7 billion.
The report also indicated that Anthropic recorded a small operating profit in the second quarter, while OpenAI's operating losses widened.
OpenAI has continued to develop and commercialise its AI models through products including ChatGPT and Codex. Recent pricing adjustments for its latest models have reportedly helped the company recover some market share from competitors.
The latest fundraising developments come as AI companies seek substantial financial resources to expand computing capacity while maintaining competitive pricing for customers.
Although OpenAI has secured significant investor commitments, the reported reduction in its fundraising target indicates that the company is seeking additional capital under revised financial terms.
The final size of the round remains uncertain, and further commitments could change the amount raised before the financing closes.
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