Business & Economy · 3 views
AI boom hits a wall on Wall Street as OpenAI cuts fundraising target while Meta gets a credit warning over its cash flow, spending and monetization
The seemingly endless gusher of capital that’s been showered on Silicon Valley during the AI boom may be coming to an end soon as Wall Street pushes back on massive spending plans.
Summary
The seemingly endless gusher of capital that’s been showered on Silicon Valley during the AI boom may be coming to an end soon as Wall Street pushes back on massive spending plans. Following a brutal selloff in tech stocks over the past week, OpenAI slashed the target on its latest fundraising round to $20 billion from $30 billion, sources told the Financial Times .
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