OpenAI has reportedly lowered its new funding round target to $20 billion, down from a previously sought $30 billion at a valuation of up to $1.4 trillion, according to The Financial Times. The company has secured $11 billion so far, with some large investors responding "tepidly" to its fundraising efforts, The Wall Street Journal reported. This comes as Wall Street investors have become wary of heavy AI infrastructure spending, leading to a major sell-off of tech stocks.