OpenAI cuts funding target by $10B; valuation falls to $1.25T

OpenAI cut its funding target from $30B to $20B and its valuation from $1.4T a month ago to $1.25T, the FT reported. Rival Anthropic aims to list on Nasdaq this month at a target valuation of at least $1.5T, but Blackstone expects it to stay in speculative grade BB after IPO; Meta's rating outlook was cut on weaker AI-driven cash flow.

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