OpenAI Cuts IPO Valuation to $125B on Weak Private Demand

OpenAI has lowered its IPO valuation target to $125 billion, down roughly $150 billion from the $1.4 billion figure floated in early October. The reduction follows weaker-than-expected demand from private banking clients, with several funds preferring to wait for Anthropic's market debut. This signals cooling investor appetite for AI mega-cap listings and may pressure sector valuations.

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