OpenAI raises just $11 billion of its $30 billion target as big investors lose their AI appetite

OpenAI raised only about $11 billion in its latest funding round, less than half of the $30 billion it was targeting. At $1.25 trillion, the valuation falls short of expectations, and major investors appear to be pulling back amid the recent tech sell-off. Meanwhile, rival Anthropic is pushing to go public as early as November.