OpenAI Slashes Funding Target To Twenty Billion Dollars

OpenAI just slashed its latest funding target to twenty billion dollars after originally aiming for thirty billion. That drop is happening because Wall Street is finally reaching its limit on handing cash to Silicon Valley. Except the real problem goes beyond just software firms. A handful of tech giants still plan to spend eight hundred billion dollars this year alone. Then next year that spending will jump past one trillion dollars. Meanwhile, S&P Global just cut Meta's credit outlook to negative on late Friday over heavy cash burn. Market researchers at Gartner estimate data centers need eight and a half trillion dollars by the end of the decade. Yet those same centers are only expected to pull in three point six trillion in revenue. BlackRock boss Larry Fink called the fight for cash the fiercest of his career. Larry Fink also noted that competition for capital is at an all time high.