OpenAI reportedly cuts fundraising and valuation targets amid AI jitters
Summary
Growing market anxiety surrounding the artificial intelligence sector has impacted OpenAI, leading the company to lower its upcoming fundraising and valuation goals. This broader industry unease recently caused a significant three-week decline in the Nasdaq 100 index following its earlier record peak.
Anxiety about the AI boom has sent the Nasdaq 100 slumping by about 10% in just three weeks since hitting a record high on October 6, including a 4.5% drop on Friday.
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