Is the AI Funding Boom Starting to Crack? OpenAI Cuts Target by $10 Billion

TLDR: OpenAI now seeks $20B at a $1.25T valuation, down from $1.4T, after cutting its target by $10B. CoreWeave’s five-year CDS spread topped 1,100 basis points in mid-October as its bonds fell below 80%. Blackstone, an anchor investor, warned Anthropic may not earn an investment-grade rating after its IPO. Citigroup sees over $2.8T in AI [...]

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